Applied Digital Corp. Files S-1 for Securities Offering
Ticker: APLD · Form: S-1 · Filed: May 31, 2024 · CIK: 1144879
Sentiment: neutral
Topics: s-1, registration-statement, capital-raising
TL;DR
Applied Digital (formerly Applied Blockchain) filed an S-1, looks like they're raising cash.
AI Summary
Applied Digital Corp. filed an S-1 registration statement on May 31, 2024, indicating plans to offer securities. The company, formerly known as Applied Blockchain, Inc., is incorporated in Nevada and headquartered in Dallas, Texas. This filing is a standard procedural step for companies intending to raise capital through public offerings.
Why It Matters
This S-1 filing signals Applied Digital Corp.'s intention to access public markets for potential capital raising, which could fund expansion or operational growth.
Risk Assessment
Risk Level: medium — S-1 filings indicate a company is seeking to raise capital, which can be a complex process with inherent market risks.
Key Numbers
- 7374 — SIC Code (Computer Processing & Data Preparation)
- 954863690 — IRS Number (Employer Identification Number)
Key Players & Entities
- Applied Digital Corp. (company) — Registrant
- May 31, 2024 (date) — Filing Date
- Applied Blockchain, Inc. (company) — Former Company Name
- Dallas, Texas (location) — Principal Executive Offices
- Nevada (location) — State of Incorporation
FAQ
What is the purpose of this S-1 filing?
The S-1 filing is a registration statement required by the SEC for companies planning to offer securities to the public.
When was this S-1 filing submitted?
The S-1 filing was submitted on May 31, 2024.
What was Applied Digital Corp. previously named?
Applied Digital Corp. was formerly known as Applied Blockchain, Inc.
Where is Applied Digital Corp. incorporated?
Applied Digital Corp. is incorporated in Nevada.
What is the primary business of Applied Digital Corp. according to its SIC code?
According to its SIC code (7374), the primary business is Services-Computer Processing & Data Preparation.
Filing Stats: 4,660 words · 19 min read · ~16 pages · Grade level 15.4 · Accepted 2024-05-31 16:39:18
Key Financial Figures
- $0.001 — ur " or " us ") common stock, par value $0.001 per share (the " Common Stock "), by th
- $42,131,579 — missory note in the principal amount of $42,131,579 issued to the Selling Stockholder on th
- $8.00 — Common Stock equal to the lower of (i) $8.00 (the " Fixed Price "), or (ii) 95% of t
- $3.00 — ) the Variable Price shall not be lower $3.00 per Conversion Share (the " Floor Price
- $4.33 — Common Stock as reported on Nasdaq was $4.33. You should read this prospectus, toge
- $25,000,000 — time to time, through the Agent, up to $25,000,000 of shares of our Common Stock. The sha
- $25,000 — original discount and a deduction of a $25,000 due diligence fee) in proceeds from our
- $42,131,579 m — losing Date, in the principal amount of $42,131,579 million, in consideration of a cash payme
- $40,000,000 — of a cash payment from the Investor of $40,000,000, representing a five percent original i
- $40 million — ch 27, 2024, in the principal amount of $40 million (the " First Promissory Note ") and the
- $10 million — il 24, 2024, in the principal amount of $10 million (the " Second Promissory Note ," and to
Filing Documents
- yorkvilles-1.htm (S-1) — 374KB
- exh107-formsx1filingfeetab.htm (EX-FILING FEES) — 29KB
- exh51snellandwilmeropinion.htm (EX-5.1) — 14KB
- exh211-listofsubsidiaries.htm (EX-21.1) — 12KB
- exh231aplds-1consent.htm (EX-23.1) — 2KB
- image_0.jpg (GRAPHIC) — 2KB
- 0001144879-24-000143.txt ( ) — 436KB
RISK FACTORS
RISK FACTORS 15 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 17 SELLING STOCKHOLDER 18
USE OF PROCEEDS
USE OF PROCEEDS 20 PLAN OF DISTRIBUTION 21
DESCRIPTION OF SECURITIES
DESCRIPTION OF SECURITIES 23 LEGAL MATTERS 24 EXPERTS 25 WHERE YOU CAN FIND MORE INFORMATION 26 INCORPORATION OF CERTAIN INFORMATION BY REFERENCE 27 ABOUT THIS PROSPECTUS This prospectus forms part of a registration statement that we filed with the SEC, and that includes exhibits that provide more detail of the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with the additional information described under the headings "Where You Can Find More Information" and "Incorporation of Certain Information by Reference" before making your investment decision. You should rely only on the information provided in this prospectus or in a prospectus supplement or any free writing prospectuses or amendments thereto. Neither we, nor the Selling Stockholder, have authorized anyone else to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. You should assume that the information in this prospectus is accurate only as of the date hereof. Our business, financial condition, results of operations and prospects may have changed since that date. Neither we, nor the Selling Stockholder, are offering to sell or seeking offers to purchase these securities in any jurisdiction where the offer or sale is not permitted. We have not done anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to, the offering of the securities as to distribution of the prospectus outside of the United States. PROSPECTUS SUMMARY This summary highlights information contained elsewhere in this prospectus and the documents incorporated by reference herein. This summary do