Applied Digital subsidiary prices $2.15B senior secured notes at 6.75% to fund Polaris Forge 2 AI campus

Applied Digital Corp.

$2.15B aggregate principal of 6.750% senior secured notes due 2031 priced at 98% of par.
Proceeds to fund 200 MW of critical IT load at Polaris Forge 2 in Harwood, ND, leased to Oracle.
Offering expected to close around March 10, 2026; notes sold under Rule 144A and Regulation S.
Notes fully and unconditionally guaranteed by six subsidiaries; secured by first-priority liens on substantially all assets.
Applied Digital provides completion guarantees to ensure timely completion of Polaris Forge 2 project.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.