Dallas-Based Applied Blockchain Files for $75M IPO
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.
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.