UPDATE: Applied Blockchain (APLD) IPO Trades Lower After Opening

(Updated - April 13, 2022 10:58 AM EDT)

Today's IPO for Applied Blockchain, Inc. (NASDAQ: APLD) opened for trading. Shares are trading at $4.65 after pricing 8,000,000 shares of its common stock at $5.00 per share.

B. Riley Securities and Needham & Company are acting as book-running managers, Craig-Hallum and D.A. Davidson & Co. are acting as lead managers, and Lake Street and Northland Capital Markets are acting as co-managers for the offering.

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.

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