Management and corporate services agreement with ChronoScale
Company: Applied Digital
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
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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”