Loan advance schedule
Company: Applied Digital - Project: Jamestown
The claim, verbatim
Initial advance of $12 million (80% of principal) made at closing; remaining $3 million (20%) available upon proof of 100% intended operating capacity of Jamestown facility
Source (primary)
Applied Digital 8-K filed 2022-08-12 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The first advance on the Loan was made at the time the Loan was entered into and was not to exceed 80% of the total principal amount of the Loan, or $12,000,000.00. The remaining 20% balance of this Loan shall be available for advance following Borrower's proof of 100% intended operating capacity of its Jamestown, North Dakota hosting facility”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Applied Digital 8-K filed 2022-08-12
Quote: “The first advance on the Loan was made at the time the Loan was entered into and was not to exceed 80% of the total principal amount of the Loan, or $12,000,000.00. The remaining 20% balance of this Loan shall be available for advance following Borrower's proof of 100% intended operating capacity of its Jamestown, North Dakota hosting facility”