$20M term loan from Starion Bank
Company: Applied Digital - Project: Ellendale
The claim, verbatim
Applied Digital's subsidiary APLD ELN-01 LLC entered into a term loan with Starion Bank for a principal amount of $20,000,000, bearing interest at 7.48% per annum and maturing on February 3, 2028
Source (primary)
Applied Digital 8-K filed 2023-02-21 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The Loan Agreement provides for a term loan (the "Loan") in the principal amount of $20,000,000 with a maturity date of February 3, 2028; ... The Loan Agreement provides for an interest rate of 7.48% per annum.”
How we checked this
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Additional evidence
confirms Applied Digital 8-K filed 2023-02-21
Quote: “The Loan Agreement provides for a term loan (the "Loan") in the principal amount of $20,000,000 with a maturity date of February 3, 2028; ... The Loan Agreement provides for an interest rate of 7.48% per annum.”