Vantage Garden City Loan at 6.15%
Company: Applied Digital - Project: Garden City
The claim, verbatim
The company drew funding from a 6.15% Vantage Garden City Loan and its 9% loan from B. Riley.
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-10-08)Live source ↗Archive.org ↗
Quote: “draws on the Company's 9% loan from B. Riley and funding received from the 6.15% Vantage Garden City Loan”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The cash flow discussion attributes $6.8 million in borrowings to draws on the company's 9% B. Riley loan and funding from the 6.15% Vantage Garden City Loan.
Confirmed in the source:
- The company received funding from a Vantage Garden City Loan
- The Vantage Garden City Loan carries a 6.15% rate
- The company drew on a loan from B. Riley
- The B. Riley loan carries a 9% rate
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/72/applied-digital-reports-fiscal-first-quarter-2024-financial/) in full (23,346 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “draws on the Company's 9% loan from B. Riley and funding received from the 6.15% Vantage Garden City Loan”