$15.0M North Dakota bank credit facility
Company: Applied Digital
The claim, verbatim
On August 12, 2022, the company secured a $15.0 million credit facility with a North Dakota-based bank. The rate is 1.5% for the first 13 months and 6.5% for the rest of the term. Proceeds will repay existing debt and fund datacenter buildout.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-29)Live source ↗Archive.org ↗
Quote: “On August 12, 2022, Applied Blockchain secured a new $15.0 million credit facility with a North Dakota-based bank. The initial interest rate is expected to be 1.5% for the first 13 months after taking into account state-based economic incentives and the remainder of the term rate will be 6.5%.”
How we checked this
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Additional evidence
confirms Earnings Release
Quote: “On August 12, 2022, Applied Blockchain secured a new $15.0 million credit facility with a North Dakota-based bank. The initial interest rate is expected to be 1.5% for the first 13 months after taking into account state-based economic incentives and the remainder of the term rate will be 6.5%.”