secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-03-04T23:59:59+00:00
Accession:  0001493152-26-008772
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008772/0001493152-26-008772-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226008772/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-008772

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