CIM Promissory Note initial borrowing
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened June 7, 2024
The claim reports that the initial $15M was already drawn on June 7, 2024, and later filings repeat this.
“The CIM Promissory Note provides for an initial borrowing of $15 million, which was drawn on June 7, 2024”
2024-10-03 · Applied Digital S-1 filed 2024-10-04 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
Initial borrowing of $15 million under CIM Promissory Note drawn on June 7, 2024
Source (primary)
Applied Digital S-1 filed 2024-10-04 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The CIM Promissory Note provides for an initial borrowing of $15 million, which was drawn on June 7, 2024”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing states the CIM Promissory Note's $15 million initial borrowing was drawn on June 7, 2024.
Confirmed in the source:
- The CIM Promissory Note provided for an initial borrowing of $15 million
- The $15 million initial borrowing was drawn on June 7, 2024
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315224039591/forms-1.htm) in full (130,138 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital S-1 filed 2024-10-04
Quote: “The CIM Promissory Note provides for an initial borrowing of $15 million, which was drawn on June 7, 2024”