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CIM credit facility with tranches

Company: Applied Digital

Subject kind
financing
Statement date
2024-09-22
Promised amount
200000000.0 USD
Current status
stated

The claim, verbatim

CIM Promissory Note provides for $15 million initial borrowing (drawn June 7, 2024), up to $110 million in subsequent borrowings, and up to $75 million accordion feature

Source (primary)

Applied Digital S-1 filed 2024-09-23 (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, and subsequent borrowings of up to $110 million... the CIM Promissory Note includes an accordion feature that allows for up to an additional $75 million of borrowings.”

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/1144879/000149315224037827/forms-1.htm) in full (181,241 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

Additional evidence

confirms Applied Digital S-1 filed 2024-09-23

Quote: “The CIM Promissory Note provides for an initial borrowing of $15 million, which was drawn on June 7, 2024, and subsequent borrowings of up to $110 million... the CIM Promissory Note includes an accordion feature that allows for up to an additional $75 million of borrowings.”

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