$25M released from Garden City sale escrow
Company: Applied Digital - Project: Garden City
What the later record shows
Not a promise: a reported event · happened July 30, 2024
The claim reports an escrow release that had already occurred: the conditions were met July 30, 2024 and $25 million was received from escrow, as later filings confirm.
“In addition, as of the date of this report, we have received the remaining $25 million of the purchase price held in escrow.”
2024-08-29 · Applied Digital 10-K filed 2024-08-30 View cached copy (2026-08-31)Live source ↗
“During the quarter ended August 31, 2024, we received the remaining $25 million of the purchase price”
2025-04-13 · Applied Digital 10-Q filed 2025-04-14 View cached copy (2026-08-31)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
$25 million released from escrow on July 30, 2024 from the sale of Garden City, Texas facility
Source (primary)
Earnings Release (IR page (ir.applieddigital.com), earnings_call)
View cached copy (2026-09-01)Live source ↗Archive.org ↗
Quote: “On July 30, 2024 the conditional approval requirements related to the release of the escrowed funds from the sale of its Garden City, Texas facility were met, and those funds were received from escrow totaling $25 million.”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The release states that on July 30, 2024 the escrow conditions were met and $25 million from the Garden City, Texas sale was received. A separate section dates the conditions to June 28, 2024 and says the funds were 'subsequently released', which does not contradict a July 30 receipt.
Confirmed in the source:
- $25 million was released from escrow
- The escrowed funds came from the sale of the Garden City, Texas facility
- The funds were received from escrow on July 30, 2024, when the conditional approval requirements were met
What we did: Read our cached copy of IR page (ir.applieddigital.com) (https://ir.applieddigital.com/news-events/press-releases/detail/105/applied-digital-reports-fiscal-fourth-quarter-and-full-year/) in full (35,024 characters, retrieved September 1, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Earnings Release
Quote: “On July 30, 2024 the conditional approval requirements related to the release of the escrowed funds from the sale of its Garden City, Texas facility were met, and those funds were received from escrow totaling $25 million.”