Accordion loan and warrant program

Checked on September 18, 2026. The cited source supports part of this claim, but not all of it.

The filing confirms the accordion warrants for up to 5,559,220 shares, their dependence on funded, discretionary and conditional accordion loans, and their price and term. It does not say the subsidiary issues the warrants. The subsidiary is described as the borrower, and the warrants are for Applied Digital's own common stock.

Confirmed in the source:

• APLD Lender Holdings may acquire additional warrants to purchase up to 5,559,220 shares of Applied Digital common stock upon funding accordion loans to an Applied Digital subsidiary
• Accordion loans are subject to certain conditions and to the discretion of the parties
• The warrants have an exercise price of $4.8005 per share
• The warrants have a five-year term

We could not confirm this from the cited source:

• Applied Digital's subsidiary is the party that would issue the accordion warrants

That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000119312524162774/d228098dsc13g.htm) in full (17,314 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

confirms Applied Digital SC 13G filed 2024-06-17

Quote: “to the extent in the future APLD Lender Holdings enters into accordion loans with a subsidiary of the Issuer... upon funding of such loans, APLD Lender Holdings may acquire additional warrants to purchase up to an additional 5,559,220 shares of Common Stock”

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