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

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.

You May Also Be Interested In

• Entrata (ENT) files for proposed IPO
• A Single AI Data Center Lease Just Locked In Up to $3.2 Billion, and a Tiny Public Company Is About to Inherit It
• Needham Reiterates Hold Rating on Elastic NV. (ESTC)