Dallas-Based Applied Blockchain Files for $75M IPO

Already a public company, the filing would move the stock to the Nasdaq.

Written by Abel Rodriguez
Published on Nov. 23, 2021
Dallas-Based Applied Blockchain Files for $75M IPO
Applies blockchain files ipo
Photo: Applied Blockchain / Twitter

Dallas-based blockchain infrastructure and mining company Applied Blockchain recently filed to go public on the Nasdaq and plans to raise $75 million in its offering, according to an SEC filing.

Though already a public company, Applied Blockchain currently trades its stock on the Pink Market operated by the OTC Market Group under the ticker “APLD.” The recent filing, if approved, would move “APLD” to the Nasdaq under the same ticker. 

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The number of shares or initial stock price for trading on the Nasdaq has not been determined meaning the $75 million Applied hopes to raise may change. 

If the IPO is accepted, Applied will use its funding to lease new properties to bolster its mining capabilities, according to the Dallas Business Journal.

Applied was launched in 2021 and secured $50 million in private funding before it went public in August.

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