Promissory Note interest rate
Company: Applied Digital
The claim, verbatim
Promissory Note bears interest at 0% annually; if Event of Default occurs and remains uncured, interest accrues at 18% annually on principal outstanding balance.
Source (primary)
Applied Digital 8-K filed 2024-05-24 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Promissory Note bears interest at an annual rate of zero percent (0%), provided, however, that for so long as an Event of Default (as defined in the Promissory Note) has occurred and remains uncured, the interest on the principal outstanding balance under the outstanding Promissory Note shall accrue at an annual rate of eighteen percent (18%)”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states the note bears 0% interest, rising to 18% on outstanding principal while an Event of Default remains uncured.
Confirmed in the source:
- The Promissory Note bears interest at 0% annually
- While an Event of Default has occurred and remains uncured, interest accrues at 18% annually on the outstanding principal balance
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 Promissory Note bears interest at an annual rate of zero percent (0%), provided, however, that for so long as an Event of Default (as defined in the Promissory Note) has occurred and remains uncured, the interest on the principal outstanding balance under the outstanding Promissory Note shall accrue at an annual rate of eighteen percent (18%)”