Applied Blockchain, a blockchain infrastructure company based in the UK, filed an initial public offering (IPO) application with the United States Securities and Exchange Commission on April 8 to issue 3,236,245 common shares on the Nasdaq global select market under the ticker PLD.
The company currently trades on the OTC Pink market – the lowest of the three OTC market tiers based on financial volume and required company disclosure – under the same ticker with a share price of $18.84.
The solicitation document was keen to underscore that the price of the public offering would not be determined, nor would it be wholly indicative, of OTC Pink’s current market value, but rather through diligent evaluations by themselves and the underwriters.
Having said that, the company has outlined an indicative valuation for potential stakeholders of between 16.54 and 20.54 dollars per share, a range that provides a mean of $18.54.
There is no official time frame for the SEC’s response, but under normal circumstances it takes months.
In April 2020, the distributed ledger technology (DLT) firm raised $2.5 million in its second round of seed capital led by Hong Kong venture capital firm QBN Capital, The first being a $1.5 million raise in early January 2018 led by Calibrate Management and energy giant Shell Trading International.
Most recently, in mid-February of this year, Applied Blockchain became the recipient of an undisclosed grant from the Algorand Foundation for research and development of a reciprocal flow bridge between Algorand and Ethereum titled London Bridge. The platform hopes to improve the liquidity and interoperability of the two networks with an inherent focus on “security, cost and user experience.”
On the 21st of April our CEO @adi_benari will be presenting at the “After the Bell” event in London, an event titled “The Impact of DeFi: What’s Next in Tokenization, NFTs, DAO & the Blockchain Economy.”
Register with “APPLIED” and get a 40% discount https://t.co/dnpAzPNO0D
—Applied Blockchain (@AppBlockchain) April 6, 2022
On April 21 our CEO, Adi Ben-Ari, will present at the “After the Bell” event in London, an event titled “The Impact of DeFi: What’s Next in Tokenization, NFTs, DAO & the Blockchain Economy”.
Register with “APPLIED” and get a 40% discount
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