Initial loan from Macquarie Equipment Capital

Checked on September 17, 2026. The cited source supports part of this claim, but not all of it.

The filing confirms the parties, the $50 million draw on September 9, 2025, and the 8.0% rate. It lists September 9, 2027 only as the outside maturity date, and the note can mature earlier.

Confirmed in the source:

• APLD FAR-01 LLC, a subsidiary of Applied Digital, entered into a promissory note with Macquarie Equipment Capital, Inc.
• The note provides for an initial principal sum of $50 million
• The $50 million initial loan was drawn on the closing date, September 9, 2025
• The loan bears interest at 8.0% per annum (absent an event of default)

We could not confirm this from the cited source:

• That the note matures on September 9, 2027; the filing gives that only as the latest possible maturity date. Maturity is the earliest of acceleration, February 1, 2026 if the 200 MW Lease Execution has not occurred by October 31, 2025, or September 9, 2027

That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.

What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225013210/form8-k.htm) in full (15,570 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.

confirms Applied Digital 8-K filed 2025-09-12

Quote: “The Promissory Note provides for a principal sum of (a) $50 million (the "Initial Loan"), which was drawn on the Closing Date... The Loan shall bear interest at 8.0% per annum... The Promissory Note matures on the earliest of... (iii) September 9, 2027.”

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