Applied funding pre-closing development costs
Company: Applied Digital
The claim, verbatim
Applied is funding development work and equipment procurement at the project site through closing. If closing fails, Soluna must reimburse Applied for 80% of these Funded Costs, up to $45 million.
Source (primary)
A warrant for up to 7.64M shares would accompany Soluna (SLNH)'s planned Applied Digital venture. - Stock Titan (-, news_article)
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Quote: “Soluna Investor will be obligated to reimburse Applied Investor for eighty percent (80%) of such Funded Costs, up to a maximum of $45 million”
How we checked this
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Additional evidence
confirms A warrant for up to 7.64M shares would accompany Soluna (SLNH)'s planned Applied Digital venture. - Stock Titan
Quote: “Soluna Investor will be obligated to reimburse Applied Investor for eighty percent (80%) of such Funded Costs, up to a maximum of $45 million”