CIM 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 $15M initial borrowing 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
Subsidiary APLD Holdings 2 LLC drew initial $15 million under Promissory Note with CIM on June 7, 2024
Source (primary)
Applied Digital 424B5 filed 2024-06-17 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “our subsidiary, APLD Holdings 2 LLC entered into a Promissory Note with CIM APLD Lender Holdings, LLC ("CIM"), which 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 that the subsidiary's Promissory Note with CIM provided an initial $15 million borrowing, drawn on June 7, 2024.
Confirmed in the source:
- Applied Digital subsidiary APLD Holdings 2 LLC entered into a Promissory Note with CIM APLD Lender Holdings, LLC
- The note provides for an initial borrowing of $15 million
- The initial $15 million was drawn on June 7, 2024
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000167/a06142024ciminitialwarrant.htm) in full (130,571 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 424B5 filed 2024-06-17
Quote: “our subsidiary, APLD Holdings 2 LLC entered into a Promissory Note with CIM APLD Lender Holdings, LLC ("CIM"), which provides for an initial borrowing of $15 million, which was drawn on June 7, 2024”