Subsequent borrowing tranches from CIM
Company: Applied Digital
The claim, verbatim
Up to $110 million in subsequent tranches available under the promissory note, subject to satisfaction of certain conditions including entry into account control agreements and assignment of project contracts
Source (primary)
Applied Digital 8-K filed 2024-06-07 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “subsequent borrowings of up to $110 million (the "Subsequent Tranches") will be available subject to the satisfaction of certain conditions, including entry into certain account control agreements and the assignment of certain project contracts to the Borrower or affiliate of the Borrower as requested by the Lender”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states the $110 million of subsequent tranches and these conditions.
Confirmed in the source:
- Up to $110 million in subsequent tranches is available under the promissory note
- Availability is subject to conditions including entry into account control agreements
- Availability is subject to conditions including assignment of project contracts
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: “subsequent borrowings of up to $110 million (the "Subsequent Tranches") will be available subject to the satisfaction of certain conditions, including entry into certain account control agreements and the assignment of certain project contracts to the Borrower or affiliate of the Borrower as requested by the Lender”