$2.15B Senior Secured Notes due 2031
Company: Applied Digital - Project: Polaris Forge 2
The claim, verbatim
Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through subsidiary APLD ComputeCo 2 LLC, with proceeds to fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.
Source (primary)
View PDF (IR page (ir.applieddigital.com), ir_release)
View cached copy (2026-09-01)Live source ↗
Quote: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release states the amount, coupon, maturity, issue price, issuing subsidiary, and intended use of proceeds exactly as claimed.
Confirmed in the source:
- Applied Digital completed a $2.15 billion private offering of Senior Secured Notes
- The notes carry a 6.750% coupon and are due 2031
- The notes were issued at 98% of par
- The notes were issued through subsidiary APLD ComputeCo 2 LLC
- Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/sec-filings/all-sec-filings/content/0001144879-26-000044/0001144879-26-000044.pdf) in full (57,639 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms View PDF
Quote: “Completed a $2.15 billion private offering of 6.750% Senior Secured Notes due 2031 (issued at 98% of par) through its subsidiary APLD ComputeCo 2 LLC. Proceeds will fund development of 200 MW of critical IT load at Polaris Forge 2 in Harwood, North Dakota.”