---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-008772"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-03-04T23:59:59+00:00"
generated_at: "2026-05-15T21:25:56.003246+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- accession: 0001493152-26-008772
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-03-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008772/0001493152-26-008772-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315226008772/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-008772
- JSON: https://secwatch.observer/filing/0001493152-26-008772.json
- Plain text: https://secwatch.observer/filing/0001493152-26-008772.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.