CoreWeave Warrant Issuance
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Issued warrant to CoreWeave to acquire up to 8,393,611 shares of common stock at exercise price of $10.75 per share in connection with third lease agreement for 150 MW at Polaris Forge 1
Source (primary)
Applied Digital S-3 filed 2025-12-05 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On August 28, 2025, in connection with the third lease agreement, we issued CoreWeave a warrant (the "Additional CoreWeave Warrants") to acquire up to 8,393,611 shares of our common stock at an exercise price of $10.75 per share”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The document states the August 28, 2025 warrant terms and ties the warrant to the third CoreWeave lease, which it separately describes as delivering an additional 150 MW at Polaris Forge 1.
Confirmed in the source:
- On August 28, 2025, Applied Digital issued CoreWeave a warrant to acquire up to 8,393,611 shares of common stock at an exercise price of $10.75 per share
- The warrant was issued in connection with a third lease agreement with CoreWeave
- The third lease agreement covers an additional 150 MW at the Polaris Forge 1 campus, bringing CoreWeave's total contracted capacity there to 400 MW
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225026369/forms-3.htm) in full (89,712 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-3 filed 2025-12-05
Quote: “On August 28, 2025, in connection with the third lease agreement, we issued CoreWeave a warrant (the "Additional CoreWeave Warrants") to acquire up to 8,393,611 shares of our common stock at an exercise price of $10.75 per share”