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First warrant exercisable 6 months post-Closing upon $900M funding

Company: Applied Digital - Project: Ellendale

Subject kind
facility timeline
Statement date
2025-01-13
Promised amount
6.0 months
Current status
stated

The claim, verbatim

First warrant becomes exercisable upon Purchaser funding full $900 million in ELN Campus but no earlier than 6-month anniversary of Closing

Source (primary)

Applied Digital 8-K filed 2025-01-14 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗

Quote: “The first warrant will become exercisable upon the Purchaser funding the full $900 million in the ELN Campus, but in no event before the six-month anniversary of the Closing.”

How we checked this

Attempted on September 17, 2026. We could not read enough of the cited source to check this claim.

The verification run did not return a result for this claim (claude -p exit 1: b'').

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225002040/form8-k.htm) in full (16,003 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Applied Digital 8-K filed 2025-01-14

Quote: “The first warrant will become exercisable upon the Purchaser funding the full $900 million in the ELN Campus, but in no event before the six-month anniversary of the Closing.”

View cached copy (2026-08-31)Live source ↗