secwatch.observer — SEC 8-K summary
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Issuer:     Applied Digital Corp. (APLD)
CIK:        0001144879
Form:       8-K
Filed at:   2026-03-10T23:59:59+00:00
Accession:  0001493152-26-009538
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/0001493152-26-009538-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1144879/000149315226009538/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-26-009538

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