APLD ELN-02 Holdings $150 million senior secured debt from Macquarie Equipment Capital
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Not a promise: a reported event · happened November 27, 2024
The claim reports a $150 million financing that had already closed, with the note issued November 27, 2024, before the statement on 2025-01-14.
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
APLD ELN-02 Holdings LLC (Ellendale facility subsidiary) closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc., with Promissory Note issued November 27, 2024
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “APLD ELN-02 Holdings LLC, a subsidiary of Applied Digital, closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc., a division of Macquarie Groups Commodities and Global Markets' business. APLD ELN-02 Holdings LLC issued a Promissory Note for the full $150 million in gross proceeds on November 27, 2024”
How we checked this
Checked on October 10, 2026. The cited source supports part of this claim, but not all of it.
The release confirms the $150 million Macquarie Equipment Capital financing and the November 27, 2024 note, but describes APLD ELN-02 Holdings only as a subsidiary of Applied Digital and does not say it holds the Ellendale facility.
Confirmed in the source:
- APLD ELN-02 Holdings LLC is a subsidiary of Applied Digital
- APLD ELN-02 Holdings LLC closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc.
- A Promissory Note for the full $150 million was issued on November 27, 2024
We could not confirm this from the cited source:
- APLD ELN-02 Holdings LLC is the subsidiary for the Ellendale facility
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/118/applied-digital-reports-fiscal-second-quarter-2025-results/) in full (35,851 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “APLD ELN-02 Holdings LLC, a subsidiary of Applied Digital, closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc., a division of Macquarie Groups Commodities and Global Markets' business. APLD ELN-02 Holdings LLC issued a Promissory Note for the full $150 million in gross proceeds on November 27, 2024”
confirms Earnings Release
Quote: “APLD ELN-02 Holdings LLC, a subsidiary of Applied Digital, closed a $150 million senior secured debt financing with Macquarie Equipment Capital, Inc.”