7 Things to Know About the Upcoming Applied Blockchain (APLD) IPO

April 11, 2022 5:59 PM EDT
Get Alerts APLD Hot Sheet
Price: $1.17 +7.34%

Overall Analyst Rating:
    BUY (= Flat)

Trade Now! 
Join SI Premium – FREE

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Applied Blockchain, Inc. (NASDAQ: APLD) is set to launch its U.S. IPO this week. Applied Blockchain, Inc. 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 55MW, with the remaining 45MW expected to be brought online during the second calendar quarter of 2022. It is targeting bringing 800MW online by May 2023, 1.8GW by May 2024, and 5GW over the next five years.

7. Crypto Mining Fleet: The company has purchased property in North Dakota on which it constructed its first co-hosting facility. It has also entered into an Amended and Restated Energy Services Agreement with respect to 100 megawatts to be used by its co-hosting customers. It has also entered into agreements with four customers (JointHash Holding Limited (a subsidiary of GMR), Bitmain Technologies Limited, F2Pool Mining, Inc. and Hashing LLC) which will account for the total available energy under the Amended and Restated Energy Services Agreement at the company’s first facility and 85MW of energy at its second facility once built and able to provide such energy.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories


Related Entities

Needham & Company, B. Riley, D.A. Davidson, IPO