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$20M term loan from Starion Bank

Company: Applied Digital - Project: Ellendale

Subject kind
financing
Statement date
2023-02-20
Promised by
2028-02-03
Promised amount
20000000.0 USD
Current status
stated

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

Attempted on September 21, 2026. We could not read enough of the cited source to check this claim.

The verification run did not return a result for this claim (claude -p exit 1: b'').

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487923000074/apld-20230214.htm) in full (13,001 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.

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.”

View cached copy (2026-09-13)Live source ↗