secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-03-02T23:59:59+00:00
Accession:  0001493152-26-008549
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Applied Digital subsidiary proposes $2.15B senior secured notes due 2031 for Polaris Forge 2 development
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- APLD ComputeCo 2 LLC intends to offer $2.15B aggregate principal of senior secured notes due 2031 in private placement.
- Net proceeds to fund 200 MW critical IT load at Polaris Forge 2 AI Factory campus in Harwood, ND, currently leased to Oracle.
- Notes fully guaranteed by six subsidiaries; secured by first-priority liens on substantially all assets of issuer and guarantors.
- Applied Digital will provide completion guarantees to ensure timely completion of the Polaris Forge 2 project.
- Offering subject to market conditions; no assurance of timing, terms, or completion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008549/0001493152-26-008549-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008549/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-008549

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