Prepaid Advance Agreement - $40M Promissory Note
Company: Applied Digital
What the later record shows
Not a promise: a reported event · happened March 27, 2024
The claim, made in September 2024, describes a note issued on March 27, 2024. Later filings confirm the March PPA and a promissory note dated that day.
“that certain Convertible Promissory Note, dated March 27, 2024 made by Parent in favor of Investor”
2024-10-21 · ARS View cached copy (2026-09-01)Live source ↗Archive.org ↗
“On March 27, 2024, we entered into the March PPA with YA Fund.”
2024-10-28 · Applied Digital S-1/A filed 2024-10-29 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
$40 million Promissory Note issued on March 27, 2024 (Closing Date)
Source (primary)
Applied Digital 424B3 filed 2024-09-11 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “a Promissory Note in the principal amount of $40,000,000 was issued to the Selling Stockholder on the Closing Date”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The prospectus defines the Closing Date as March 27, 2024 and states that a $40,000,000 Promissory Note was issued on that date.
Confirmed in the source:
- A Promissory Note with a principal amount of $40,000,000 was issued to the Selling Stockholder on the Closing Date
- The Closing Date was March 27, 2024, the date of the Prepaid Advance Agreement
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000238/apld-prospectusyorkvillepo.htm) in full (84,274 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B3 filed 2024-09-11
Quote: “a Promissory Note in the principal amount of $40,000,000 was issued to the Selling Stockholder on the Closing Date”