Guarantee termination option—Base Electron $50M financing
Company: Applied Digital
The claim, verbatim
Applied Digital may terminate the guarantee if Base Electron completes a financing transaction resulting in gross proceeds of at least $50 million, provided Base Electron is current on payments to B&W.
Source (primary)
Applied Digital 8-K filed 2026-03-04 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the consummation by Base Electron of a financing transaction resulting in gross proceeds of at least $50 million (provided that Base Electron is current in its payments to B&W)”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
The filing lists a Base Electron financing of at least $50 million in gross proceeds, with Base Electron current on payments to B&W, as a triggering event for termination.
Confirmed in the source:
- Applied Digital may terminate the Guarantee upon Base Electron consummating a financing transaction
- The financing must result in gross proceeds of at least $50 million
- The condition requires Base Electron to be current in its payments to B&W
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315226008849/form8-k.htm) in full (11,125 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2026-03-04
Quote: “the consummation by Base Electron of a financing transaction resulting in gross proceeds of at least $50 million (provided that Base Electron is current in its payments to B&W)”