Initial borrowing from CIM APLD Lender Holdings
Company: Applied Digital
The claim, verbatim
Applied Digital Holdings 2 LLC drew $15 million on June 7, 2024 under a promissory note with CIM APLD Lender Holdings, LLC
Source (primary)
Applied Digital 8-K filed 2024-06-07 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On June 7, 2024, APLD Holdings 2 LLC (the "Borrower"), a Delaware limited liability company and a subsidiary of Applied Digital Corporation, a Nevada corporation (the "Company") entered into a promissory note (the "Promissory Note") with CIM APLD Lender Holdings, LLC, a Delaware limited liability company (the "Lender"). The Promissory Note provides for an initial borrowing of $15 million (the "First Borrowing"), which was drawn on June 7, 2024”
How we checked this
Checked on September 18, 2026. The cited source supports part of this claim, but not all of it.
The filing confirms the $15 million draw on June 7, 2024 under the CIM note. It names the borrower APLD Holdings 2 LLC, not Applied Digital Holdings 2 LLC.
Confirmed in the source:
- The borrower entered into a promissory note with CIM APLD Lender Holdings, LLC on June 7, 2024
- An initial borrowing of $15 million was drawn on June 7, 2024 under the promissory note
- The borrower is a subsidiary of Applied Digital Corporation
We could not confirm this from the cited source:
- The borrower's name is 'Applied Digital Holdings 2 LLC' (the filing names it APLD Holdings 2 LLC)
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/1144879/000114487924000151/apld-20240607.htm) in full (13,148 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-06-07
Quote: “On June 7, 2024, APLD Holdings 2 LLC (the "Borrower"), a Delaware limited liability company and a subsidiary of Applied Digital Corporation, a Nevada corporation (the "Company") entered into a promissory note (the "Promissory Note") with CIM APLD Lender Holdings, LLC, a Delaware limited liability company (the "Lender"). The Promissory Note provides for an initial borrowing of $15 million (the "First Borrowing"), which was drawn on June 7, 2024”