The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Nscale (Revolving Credit Facility, USD 900.0 million after upsizing, May to June 2026) → Nscale

$900.0M — Nscale's S-1 stated that in May 2026 it entered into a revolving credit and guaranty agreement with an initial aggregate commitment of USD 770.0 million and a USD 200.0 million letter of credit sublimit, and in June 2026 upsized the aggregate revolving commitments to USD 900.0 million. The S-1 does not name the lenders in the cited passage.

high confidence · as of 2026-05-01T00:00:00Z · about Nscale

$900.0M — Nscale's S-1 stated that in May 2026 it entered into a revolving credit and guaranty agreement with an initial aggregate commitment of USD 770.0 million and a USD 200.0 million letter of credit sublimit, and in June 2026 upsized the aggregate revolving commitments to USD 900.0 million. The S-1 does not name the lenders in the cited passage.

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$900.0M — Nscale's S-1 stated that in May 2026 it entered into a revolving credit and guaranty agreement with an initial aggregate commitment of USD 770.0 million and a USD 200.0 million letter of credit sublimit, and in June 2026 upsized the aggregate revolving commitments to USD 900.0 million. The S-1 does not name the lenders in the cited passage.

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