---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-009538"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-03-10T23:59:59+00:00"
generated_at: "2026-05-15T15:30:53.846743+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Applied Digital subsidiary issues $2.15B in 6.75% senior secured notes due 2031

## Summary
- Notes issued at 98% by APLD ComputeCo 2 LLC; net proceeds to fund 200 MW AI campus (Polaris Forge 2) in Harwood, ND, leased to Oracle.
- Interest 6.75% semi-annual; maturity March 2031; amortization starts after final lease commencement date.
- CFO Saidal Mohmand awarded $750,000 bonus for completing financings for Polaris Forge 1 and 2 campuses.
- Gross proceeds deposited in escrow until conditions met; parent Applied Digital provides completion guarantee.
- Indenture restricts additional debt, dividends, asset sales; change-of-control repurchase at 101% of principal.

## SEC filing metadata
- accession: 0001493152-26-009538
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-03-10T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/0001493152-26-009538-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-009538
- JSON: https://secwatch.observer/filing/0001493152-26-009538.json
- Plain text: https://secwatch.observer/filing/0001493152-26-009538.txt

## Source-grounded claims
- claim_id: c99f10dedec74545ff3ed5331fb0c8fec83592c8
  claim: Applied Digital Corp. incurred senior notes of $2.15 billion with Goldman Sachs & Co. LLC as representative of the several initial purchasers named in Schedule I thereto at 6.750% per annum maturing March 15, 2031.
  evidence_excerpt: Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act. The aggregate principal amount of notes sold in the offering was $2.15 billion. The notes were issued at a price equal to 98.000% of their principal amount. The Issuer intends to use the net proceeds from the offering to fund the development and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/0001493152-26-009538-index.htm
- claim_id: 826b60cb36b0d83681dd2350fcb10a0264964469
  claim: Applied Digital Corp. entered into Indenture with Wilmington Trust, National Association valued at $2.15 billion (effective 2026-03-10).
  evidence_excerpt: ccount) in accordance with the provisions of the indenture governing the notes, and to pay related fees and expenses, including transaction
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/0001493152-26-009538-index.htm

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