B. Riley term loan early termination
Company: Applied Digital
The claim, verbatim
Applied Digital terminated a $50 million term loan with B. Riley Commercial Capital, LLC that was originally scheduled to mature May 23, 2025. All principal, interest, and fees were paid in full with no early termination penalty.
Source (primary)
Applied Digital 8-K filed 2024-02-06 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Termination Letter terminated the Loan and Security Agreement dated as of May 23, 2023, as amended, among the parties, which had provided for a term loan (the "Loan Agreement") in the principal amount of $50,000,000 with a maturity date of May 23, 2025. At the time of the Termination Letter, all principal, interest and fees under the Loan Agreement had been paid in full. No early termination penalty was paid in connection with the Termination Letter.”
How we checked this
Checked on September 18, 2026. The cited source supports every part of this claim.
The filing states that the $50 million B. Riley term loan, due May 23, 2025, was terminated after being paid in full with no early termination penalty.
Confirmed in the source:
- Applied Digital, through its wholly-owned subsidiary SAI Computing LLC, terminated a term loan agreement with B. Riley Commercial Capital, LLC and B. Riley Securities, Inc.
- The term loan had a principal amount of $50,000,000
- The loan had a maturity date of May 23, 2025
- All principal, interest and fees had been paid in full at the time of termination
- No early termination penalty was paid
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000114487924000026/apld-20240130.htm) in full (8,572 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2024-02-06
Quote: “The Termination Letter terminated the Loan and Security Agreement dated as of May 23, 2023, as amended, among the parties, which had provided for a term loan (the "Loan Agreement") in the principal amount of $50,000,000 with a maturity date of May 23, 2025. At the time of the Termination Letter, all principal, interest and fees under the Loan Agreement had been paid in full. No early termination penalty was paid in connection with the Termination Letter.”