Convertible promissory note issuance
Company: Applied Digital
The claim, verbatim
Applied Digital issued a convertible unsecured promissory note in principal amount of $42,131,579 to YA II PN, LTD. on May 24, 2024, in consideration of $40 million cash.
Source (primary)
Applied Digital 8-K filed 2024-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the Company issued the Promissory Note on May 24, 2024, in the principal amount of $42,131,579, in consideration of a cash payment from the Investor of $40 million”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states the company issued a convertible unsecured promissory note to YA II PN, LTD. on May 24, 2024, with $42,131,579 principal, for a $40 million cash payment.
Confirmed in the source:
- Applied Digital issued a convertible unsecured promissory note to YA II PN, LTD.
- The note was issued on May 24, 2024
- The principal amount was $42,131,579
- The note was issued in consideration of a $40 million cash payment
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000140/apld-20240524.htm) in full (15,238 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-05-24
Quote: “the Company issued the Promissory Note on May 24, 2024, in the principal amount of $42,131,579, in consideration of a cash payment from the Investor of $40 million”