The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

← Research · Q1

Nscale Ward County Borrower SPV (Ward County GPU Facility, USD 1.85 billion delayed-draw term loan, August 2026) → Nscale Ward County Borrower SPV, LLC

$1.9B — Nscale's S-1 stated that in August 2026 Nscale Ward County Borrower SPV, LLC entered into a USD 1.85 billion delayed-draw term loan facility, made up of USD 630.0 million of fixed-rate and USD 1.22 billion of floating-rate delayed draw loan commitments (the Ward County GPU Facility). The S-1 does not name the lenders.

high confidence · as of 2026-08-01T00:00:00Z · about Nscale ward county borrower spv

$1.9B — Nscale's S-1 stated that in August 2026 Nscale Ward County Borrower SPV, LLC entered into a USD 1.85 billion delayed-draw term loan facility, made up of USD 630.0 million of fixed-rate and USD 1.22 billion of floating-rate delayed draw loan commitments (the Ward County GPU Facility). The S-1 does not name the lenders.

Sourced figures 1


the working

Basis

$1.9B — Nscale's S-1 stated that in August 2026 Nscale Ward County Borrower SPV, LLC entered into a USD 1.85 billion delayed-draw term loan facility, made up of USD 630.0 million of fixed-rate and USD 1.22 billion of floating-rate delayed draw loan commitments (the Ward County GPU Facility). The S-1 does not name the lenders.

Threads 0

No thread tagged to this actor yet.

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Research · Q1.