Applied Blockchain, Inc. (NASDAQ: APLD) is set to launch its U.S. IPO this week. APLD is a builder of Next-Gen datacenters, which are designed to provide massive computing power, with a…
mission to build co-hosting facilities in which its customers will lease space and access to electricity to mine cryptoassets. Below are 7 important facts to focus on ahead of the IPO.
1. IPO Timing: Applied Blockchain, Inc. is expected to have its IPO on the NASDAQ on April 13, 2022. The stock ticker is ‘APLD’. Normally IPOs on the NASDAQ began trading between 10AM-2PM ET.
2 IPO Price: Applied Blockchain, Inc. initial public offering price is expected to be between $16.54 and $20.54 per share.
3. Shares Offered: Applied Blockchain, Inc. is offering 3,236,245 shares of common stock, granting the underwriters a 30-day option to purchase up to an additional 485,436 shares of common stock.
4. IPO Valuation: The company will have 94,441,268 shares of common stock (or 94,926,704 shares of common stock if the underwriters exercise their over-allotment option in full), suggesting a valuation of approximately $1.8 billion.
5. Underwriters: B. Riley Securities and Needham & Company are acting as book-runners, Craig-Hallum and D.A. Davidson & Co. as lead managers, and Lake Street and Northland Capital Markets as co-managers for the offering.
6. Important Financials: Construction of the company’s first co-hosting facility began in September 2021. On February 2, 2022, the company brought the facility online to the first…
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