---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-028899"
form_type: "8-K"
ticker: "APLD"
cik: "0001144879"
company_name: "Applied Digital Corp."
filed_at: "2026-06-16T20:30:37+00:00"
generated_at: "2026-06-16T20:32:43.992662+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# APLD subsidiary closes $1.59B 7.000% senior secured notes due 2031 for AI factory build

## Summary
- Issued $1.59B aggregate principal of 7.000% Senior Secured Notes due June 15, 2031.
- Proceeds to fund 150 MW critical IT load (ELN-04) at Polaris Forge 1 in Ellendale, ND.
- Also used to repay bridge loan with Goldman Sachs Bank USA, fund reserves, and pay expenses.
- Notes amortize semiannually starting after final datacenter lease commencement; redeemable after June 2028.
- Company provides completion guarantee to ensure project construction is finished.

## SEC filing metadata
- accession: 0001493152-26-028899
- form_type: 8-K
- ticker: APLD
- cik: 0001144879
- company_name: Applied Digital Corp.
- filed_at: 2026-06-16T20:30:37+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1144879/000149315226028899/0001493152-26-028899-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1144879/000149315226028899/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-028899
- JSON: https://secwatch.observer/filing/0001493152-26-028899.json
- Plain text: https://secwatch.observer/filing/0001493152-26-028899.txt

## Key facts
- Debt Financings
  Applied Digital Corp. incurred senior notes of $1.59 billion with Goldman Sachs & Co. LLC as representative of the initial purchasers at 7.000% per annum maturing 2031-06-15.
  - Instrument: senior notes
  - Principal: $1.59 billion
  - Counterparty: Goldman Sachs & Co. LLC as representative of the initial purchasers
  - Rate: 7.000% per annum
  - Maturity: 2031-06-15
  - Event: incurrence
  source text: 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 $1.59 billion. The notes were issued at a price equal to 100.000% of their principal amount. The Issuer intends to use the net proceeds from the offering to (i) fund the construction and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226028899/0001493152-26-028899-index.htm
- Material Agreements
  Applied Digital Corp. entered into Purchase Agreement with Goldman Sachs & Co. LLC valued at $1.59 billion (effective 2026-06-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Goldman Sachs & Co. LLC
  - Value: $1.59 billion
  - Effective: 2026-06-09
  source text: The notes were sold under a purchase agreement, dated as of June 9, 2026, entered into by and among the Issuer, the subsidiary guarantors party thereto (the “Subsidiary Guarantors”) and Goldman Sachs & Co. LLC (“Goldman Sachs”) as the representative (the “Representative”) of the several initial purchasers named in Schedule I thereto (the “Initial Purchasers”), for resale to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in reliance on Regulation S under the Securities Act.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226028899/0001493152-26-028899-index.htm
- Material Agreements
  Applied Digital Corp. entered into Indenture with Wilmington Trust, National Association (effective 2026-06-16).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Wilmington Trust, National Association
  - Effective: 2026-06-16
  source text: On June 16, 2026, the Issuer, APLD HPC Holdings 2 LLC (the direct parent of the Issuer), and the Subsidiary Guarantors entered into an indenture (the “Indenture”) with respect to the notes with Wilmington Trust, National Association, as trustee (the “Trustee”) and collateral agent (the “Collateral Agent”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1144879/000149315226028899/0001493152-26-028899-index.htm

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