Management and corporate services agreement with ChronoScale
Company: Applied Digital
What the later record shows
Delivered on time · happened May 5, 2026
The proxy statement says the Management Advisory and Corporate Services Agreement was entered into at closing on May 5, 2026. That is on the promised date.
“Upon the closing of the Business Combination, on May 5, 2026, the Company entered into a Management Advisory and Corporate Services Agreement with ChronoScale (the “Services Agreement”).”
2026-09-25 · View PDF View cached copy (2026-09-26)Live source ↗Archive.org ↗
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
Applied Digital will provide ChronoScale with management advisory services (financial, managerial, operational advice) and corporate services (administrative, software, personnel services). ChronoScale will pay Applied Digital 1% of gross revenue per quarter plus monthly fees for other corporate services. The agreement has an initial 12-month term with automatic successive one-month renewals unless either party provides 60 days' prior written notice of non-renewal.
Source (primary)
Applied Digital 8-K filed 2026-05-05 (SEC EDGAR, sec_filing)
View cached copy (2026-08-30)Live source ↗
Quote: “the Company has agreed to provide ChronoScale with (i) management advisory services, including financial, managerial, and operational advice regarding day-to-day operations and strategic transactions and (ii) certain corporate services to ChronoScale, including administrative and software services, and various personnel services... ChronoScale will pay the Company (i) an amount equal to one percent (1%) of the gross revenue of ChronoScale and its subsidiaries per quarter and (ii) fees for other corporate services... The Services Agreement has an initial term of twelve (12) months, with automatic successive one (1)-month renewals unless either party provides at least sixty (60) days' prior written notice of non-renewal”
How we checked this
Checked on October 10, 2026. The cited source supports every part of this claim.
The filing establishes the services, the fees, and the term. It also gives a shorter 20-day notice period for the renewal terms, which the claim leaves out.
Confirmed in the source:
- Applied Digital will provide ChronoScale with management advisory services, including financial, managerial and operational advice
- Applied Digital will provide corporate services, including administrative, software and personnel services
- ChronoScale will pay Applied Digital 1% of the gross revenue of ChronoScale and its subsidiaries per quarter
- ChronoScale will also pay fees for other corporate services as they are incurred on a monthly basis
- The agreement has an initial 12-month term with automatic successive one-month renewals
- Either party can prevent renewal by giving at least 60 days' prior written notice before the initial term expires
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315226021333/form8-k.htm) in full (26,576 characters, retrieved August 30, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2026-05-05
Quote: “the Company has agreed to provide ChronoScale with (i) management advisory services, including financial, managerial, and operational advice regarding day-to-day operations and strategic transactions and (ii) certain corporate services to ChronoScale, including administrative and software services, and various personnel services... ChronoScale will pay the Company (i) an amount equal to one percent (1%) of the gross revenue of ChronoScale and its subsidiaries per quarter and (ii) fees for other corporate services... The Services Agreement has an initial term of twelve (12) months, with automatic successive one (1)-month renewals unless either party provides at least sixty (60) days' prior written notice of non-renewal”
confirms View PDF
Quote: “Upon the closing of the Business Combination, on May 5, 2026, the Company entered into a Management Advisory and Corporate Services Agreement with ChronoScale (the “Services Agreement”).”