8-K - Applied Digital Corporation | StockGist

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Applied Digital Corporation announced that its subsidiary APLD ComputeCo 2 LLC priced a $2.15 billion offering of 6.750% senior secured notes due 2031 at 98% of face value, expected to close on or around March 10, 2026. Net proceeds will fund development and construction of 200 MW critical IT load at Polaris Forge 2 AI Factory campus in Harwood, North Dakota, leased to Oracle, and related project accounts and expenses.

Key Takeaways

1APLD ComputeCo 2 LLC priced $2.15 billion 6.750% senior secured notes due 2031 at 98% issue price

2Offering expected to close on or around March 10, 2026, subject to market conditions

3Notes sold to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S

4Proceeds to fund 200 MW IT load at Polaris Forge 2 campus leased to Oracle

5Notes guaranteed by subsidiaries including APLD FAR-01 LLC and secured by substantially all assets

6Applied Digital to provide completion guarantees for Polaris Forge 2 project

Current Report Details

Event Type

Other Event

Disclosure

Voluntary

Variant

8-K

Items Reported

8.01

. Other Events. On March 4, 2026, Applied Digital Corporation (the “Company”) issued a press release announcing that APLD ComputeCo 2 LLC, its subsidiary, price

Other Event

9.01

. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release, dated March 4, 2026, announcing the pricing of the Offering. 104

Exhibits Only

Transaction Details

Debt / Financing

Instrument: 6.750% senior secured notes
Principal: 2.15 billion
Rate: 6.750%
Maturity: 2031
Use of Proceeds: fund the development and construction of 200 megawatts of critical IT load at Polaris Forge 2, its AI Factory campus in Harwood, North Dakota currently leased to Oracle, as well as the “Project Accounts” (including but not limited to the Debt Service Reserve Account) in accordance with the provisions of the indenture governing the notes, and to pay related fees and expenses, including transaction expenses

Exhibits (2)

8-K

99.1

EX-99.1