Applied Digital Corporation's subsidiary, APLD ComputeCo 3 LLC, priced an offering of $1.59 billion in 7.000% senior secured notes due 2031. The offering is expected to close on or around June 16, 2026. Net proceeds will be used to fund the construction of 150 megawatts of critical IT load at the Polaris Forge 1 AI Factory campus in North Dakota, repay a bridge loan facility with Goldman Sachs Bank USA, and fund debt service reserves and transaction expenses. Applied Digital Corporation operates in the digital infrastructure and AI-focused data center industry.
