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Applied Blockchain Secures New $15 Million Credit Facility To Refinance Existing Debt And Expand Liquidity Position

Applied Blockchain Secures New $15 Million Credit Facility To Refinance Existing Debt And Expand Liquidity Position

08/12/22, 12:04 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgdallas
Money raised
$15 million
Applied Blockchain, Inc. (Nasdaq: APLD) ("Applied Blockchain" or the "Company") announced today that on July 25, 2022, the Company entered into a loan agreement with a North Dakota-based bank for a credit facility with a maximum principal amount of $15.0 million. The Company intends to use the facility to repay its existing debt and provide additional liquidity to fund the buildout of its datacenters. Applied Blockchain expects the initial interest rate of the Loan to be 1.5% for the first 13 months after taking into account state-based economic incentives and the remainder of the term rate to be 6.5%.

Company Info

Company
Applied Blockchain, Inc.
Location
bridge addresses
dallas, georgia, united states
Additional Info
We build applications with added trust and data privacy

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