ChronoScale entered into an unsecured Demand Grid Promissory Note with Applied Digital, providing a line of credit of up to $100 million, adjusted for any credit support already provided. The facility bears interest at the short-term Applicable Federal Rate, compounded semiannually, and is payable on demand with no prepayment penalty. Proceeds are intended for working capital and general corporate purposes, and there have been no advances to date. The note is not convertible into equity.
Agreement details:
- Agreement type: Unsecured demand grid promissory note (line of credit)
- Counterparty: Applied Digital
- Signed / Effective: Jun 26 2026 / Jun 26 2026
- Duration / Termination: At will (payable on demand)
- Reason: Enhance liquidity and fund working capital needs
Original SEC Filing:
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