CIM Note senior secured term loan facility
Company: Applied Digital
The claim, verbatim
CIM Note provides for initial borrowing of $15 million (drawn June 7, 2024) and subsequent borrowings up to $110 million with $70 million drawn as of July 5, 2024; includes accordion feature for additional $75 million
Source (primary)
Applied Digital 424B3 filed 2024-09-11 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On June 7, 2024, our subsidiary, APLD Holdings 2 LLC, entered into a promissory note (the " CIM Note ") with CIM APLD Lender Holdings, LLC (" CIM "), which provides for an initial borrowing of $15 million, which was drawn on June 7, 2024, and subsequent borrowings of up to $110 million which will be available subject to the satisfaction of certain conditions, of which $70 million has been drawn upon as of July 5, 2024. In addition, the CIM Note includes an accordion feature that permits up to an additional $75 million of borrowings”
How we checked this
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
Additional evidence
confirms Applied Digital 424B3 filed 2024-09-11
Quote: “On June 7, 2024, our subsidiary, APLD Holdings 2 LLC, entered into a promissory note (the " CIM Note ") with CIM APLD Lender Holdings, LLC (" CIM "), which provides for an initial borrowing of $15 million, which was drawn on June 7, 2024, and subsequent borrowings of up to $110 million which will be available subject to the satisfaction of certain conditions, of which $70 million has been drawn upon as of July 5, 2024. In addition, the CIM Note includes an accordion feature that permits up to an additional $75 million of borrowings”