Use of loan proceeds
Company: Applied Digital
The claim, verbatim
Loan proceeds to be used for repayment of prior Vantage Bank Texas loan indebtedness and for working capital and general corporate purposes
Source (primary)
Applied Digital 8-K filed 2022-08-12 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “The proceeds of the Loan will be used for (i) repayment of existing indebtedness under the Company's Loan Agreement dated as of March 11, 2022 by and between the Borrower, Vantage Bank Texas and the Company as guarantor (the "VBT Loan") and (ii) working capital needs and general corporate purposes.”
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 proceeds of the Loan will be used for (i) repayment of existing indebtedness under the Company's Loan Agreement dated as of March 11, 2022 by and between the Borrower, Vantage Bank Texas and the Company as guarantor (the "VBT Loan") and (ii) working capital needs and general corporate purposes.”