NC-1 $200M initial term loan funding scheduled
Company: WhiteFiber
The claim, verbatim
The $200 million initial term loan is unfunded and is scheduled to fund within 30 days of the Nov. 9 closing, with up to two 30-day extensions. Funding depends on the readiness and customer acceptance of NC-1's first 40 MW, a mortgage on the site and other conditions.
Source (primary)
WhiteFiber lines up a $300 million Morgan Stanley loan for its North Carolina AI data center - MLQ.ai (-, news_article)
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Quote: “Initial funding depends on the readiness and customer acceptance of the first 40 MW of capacity at NC-1, a mortgage on the site and other conditions, and is scheduled within 30 days of closing, with up to two 30-day extensions”
How we checked this
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Additional evidence
confirms WhiteFiber lines up a $300 million Morgan Stanley loan for its North Carolina AI data center - MLQ.ai
Quote: “Initial funding depends on the readiness and customer acceptance of the first 40 MW of capacity at NC-1, a mortgage on the site and other conditions, and is scheduled within 30 days of closing, with up to two 30-day extensions”