On June 16, 2026, Applied Digital Corporation's subsidiary, APLD ComputeCo 3 LLC, completed a private offering of $1.59 billion in 7.000% Senior Secured Notes due 2031. The notes were issued at 100% of their principal amount. Proceeds will be used to fund the construction of 150 megawatts of critical IT load (ELN-04) at the Polaris Forge 1 AI Factory campus in North Dakota, repay a bridge loan facility from Goldman Sachs Bank USA, fund debt service reserves, and pay transaction expenses. The notes feature semi-annual interest payments and semi-annual principal amortization. The company provided a completion guarantee for the related projects. Applied Digital operates in the digital infrastructure industry, designing and operating next-generation data centers for AI and HPC workloads.
