Initial Macquarie investment closed
Company: Applied Digital - Project: Polaris Forge 1
What the later record shows
Not a promise: a reported event · happened October 6, 2025
The claim reports an initial closing that had already occurred on October 6, 2025. A later 10-Q confirms the sale of 112,500 Preferred Units for $112.5 million at that closing.
“At the Initial Closing, the Subsidiary Issuer sold to the Purchaser 112,500 Preferred Units in the Subsidiary Issuer at a price per Preferred Unit of $1,000”
2026-04-07 · Applied Digital 10-Q filed 2026-04-08 View cached copy (2026-08-30)Live source ↗
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
Applied Digital received $112.5 million investment from Macquarie Asset Management through purchase of 112,500 Preferred Units at $1,000 per unit, which closed October 6, 2025, and issuance of Common Units representing 7.5% of the Subsidiary Issuer's fully diluted common equity
Source (primary)
Applied Digital 8-K filed 2025-10-09 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Subsidiary Issuer agreed to sell to the Purchaser at the Initial Closing (as defined in the A&R UPA), 112,500 Preferred Units in the Subsidiary Issuer (the "Initial Preferred Units") at a price per Preferred Unit of $1,000, for an aggregate purchase price of $112.5 million, and for no additional consideration, the Subsidiary Issuer agreed to issue to the Purchaser such number of Common Units of the Subsidiary Issuer representing, in the aggregate, seven and a half percent (7.5%) of the fully diluted common equity of the Subsidiary Issuer”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing states every element of the claim. The investment went to an Applied Digital subsidiary and came from an affiliate of Macquarie Asset Management, which matches the filing's description of the transaction.
Confirmed in the source:
- The Subsidiary Issuer, an indirect wholly-owned subsidiary of Applied Digital, sold 112,500 Preferred Units to a Macquarie Asset Management affiliate
- The price was $1,000 per Preferred Unit, for an aggregate of $112.5 million
- The Initial Closing occurred on October 6, 2025
- For no additional consideration, the Purchaser also received Common Units representing 7.5% of the Subsidiary Issuer's fully diluted common equity as of immediately after the Initial Closing
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225017609/form8-k.htm) in full (22,804 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2025-10-09
Quote: “the Subsidiary Issuer agreed to sell to the Purchaser at the Initial Closing (as defined in the A&R UPA), 112,500 Preferred Units in the Subsidiary Issuer (the "Initial Preferred Units") at a price per Preferred Unit of $1,000, for an aggregate purchase price of $112.5 million, and for no additional consideration, the Subsidiary Issuer agreed to issue to the Purchaser such number of Common Units of the Subsidiary Issuer representing, in the aggregate, seven and a half percent (7.5%) of the fully diluted common equity of the Subsidiary Issuer”