Lake Street is pleased to announce that it served as co-manager for Applied Blockchain, Inc. (NasdaqGS:APLD) in its initial public offering of 8,000,000 shares of common stock at a public offer price of $5.00 per share for gross proceeds of approximately $40 million. Applied intends to use the net proceeds to lease or purchase additional property on which to build additional co-hosting facilities, to construct those facilities, to enter into additional energy service agreements for each additional site and for funding its working capital and general corporate purposes.
Applied Blockchain, Inc. is a builder and operator of next-generation data centers across North America, which provide substantial compute power to blockchain infrastructure and support Bitcoin mining. The Company has partnered with the most recognized names in the industry to develop, deploy, and scale its business.
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