Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
| Applied Blockchain, Inc. |
| (Name of Issuer) |
| Common stock, par value $0.001 per share |
| (Title of Class of Securities) |
| 03824D109 |
| (CUSIP Number) |
| December 31, 2021 |
| (Date of Event which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| ☒ | Rule 13d-1(b) | |
| ☐ | Rule 13d-1(c) | |
| ☐ |
Rule 13d-1(d) |
| * | The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. |
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
|
CUSIP No. |
03824D109 |
| 1 | Names of Reporting Persons |
| B. Riley Financial, Inc. | |
| 2 | Check the appropriate box if a member of a Group (see instructions) |
|
(a) ☐ (b) ☐ | |
| 3 | SEC Use Only
|
| 4 | Citizenship or Place of Organization |
| DE |
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5 | Sole Voting Power |
| 0 | ||
| 6 | Shared Voting Power | |
| 1,065,540 | ||
| 7 | Sole Dispositive Power | |
| 0 | ||
| 8 | Shared Dispositive Power | |
| 1,065,540 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person |
| 1,065,540 | |
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) |
| ☐ | |
| 11 | Percent of class represented by amount in row (9) |
| 0.3%* | |
| 12 | Type of Reporting Person (See Instructions) |
| CO |
| * | Percent of class is calculated based on 328,581,519 shares of common stock, par value $0.001 (the “Common Stock”) of Applied Blockchain, Inc. (the “Issuer”) outstanding as reported by the Issuer on Form S-1/A filed with the Securities & Exchange Commission (the “SEC”) on February 1, 2022. |
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|
CUSIP No. |
03824D109 |
| 1 | Names of Reporting Persons |
B. Riley & Co., LLC | |
| 2 | Check the appropriate box if a member of a Group (see instructions) |
|
(a) ☐ (b) ☐ | |
| 3 | SEC Use Only
|
| 4 | Citizenship or Place of Organization |
| DE |
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5 | Sole Voting Power |
| 0 | ||
| 6 | Shared Voting Power | |
| 1,065,540 | ||
| 7 | Sole Dispositive Power | |
| 0 | ||
| 8 | Shared Dispositive Power | |
| 1,065,540 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person |
| 1,065,540 | |
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) |
| ☐ | |
| 11 | Percent of class represented by amount in row (9) |
| 0.3%* | |
| 12 | Type of Reporting Person (See Instructions) |
| BD |
| * | Percent of class is calculated based on 328,581,519 shares of the Common Stock of the Issuer outstanding as reported by the Issuer on Form S-1/A filed with the Securities & Exchange Commission (the “SEC”) on February 1, 2022. |
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|
CUSIP No. |
03824D109 |
| 1 | Names of Reporting Persons |
Bryant R. Riley | |
| 2 | Check the appropriate box if a member of a Group (see instructions) |
|
(a) ☐ (b) ☐ | |
| 3 | SEC Use Only
|
| 4 | Citizenship or Place of Organization |
United States of America |
| Number of Shares Beneficially Owned by Each Reporting Person With: | 5 | Sole Voting Power |
14,602,486 | ||
| 6 | Shared Voting Power | |
| 1,065,540 | ||
| 7 | Sole Dispositive Power | |
14,602,486 | ||
| 8 | Shared Dispositive Power | |
| 1,065,540 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting Person |
15,668,026 | |
| 10 | Check box if the aggregate amount in row (9) excludes certain shares (See Instructions) |
| ☐ | |
| 11 | Percent of class represented by amount in row (9) |
| 4.8%* | |
| 12 | Type of Reporting Person (See Instructions) |
| IN |
| * | Percent of class is calculated based on 328,581,519 shares of the Common Stock of the Issuer outstanding as reported by the Issuer on Form S-1/A filed with the Securities & Exchange Commission (the “SEC”) on February 1, 2022. |
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Item 1.
| (a) | Name of Issuer: Applied Blockchain, Inc. |
| (b) | Address of Issuer’s Principal Executive Offices: 3811 Turtle Creek Blvd, Suite 2125, Dallas, TX 75219 |
Item 2(a). Name of Persons Filing:
B. Riley Financial, Inc., a Delaware corporation (“BRF”),
B. Riley & Co., LLC, a Delaware limited liability company (“BRC”), and
Bryant R. Riley, an individual.
Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”
Item 2(b). Address of Principal Business Office or, if None, Residence:
The principal business address of each of BRF, BRC and Bryant R. Riley is:
11100 Santa Monica Blvd. Suite 800
Los Angeles, CA 90025
Item 2(c). Citizenship:
BRF and BRC are organized under the laws of the State of Delaware.
Bryant R. Riley is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common stock, par value $0.001 per share
Item 2(e). CUSIP Number:
03824D109
Item 3. If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
☐☐☐☐☐ Not applicable
| (a) | ☒ | Broker or dealer registered under Section 15 of the Act; | |
| (b) | ☐ | Bank as defined in Section 3(a)(6) of the Act; | |
| (c) | ☐ | Insurance company as defined in Section 3(a)(19) of the Act; | |
| (d) | ☐ | Investment company registered under Section 8 of the Investment Company Act of 1940; | |
| (e) | ☐ | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); | |
| (f) | ☐ | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); | |
| (g) | ☐ | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); | |
| (h) | ☐ | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | ☐ | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940; | |
| (j) | ☐ | A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J); | |
| (k) | ☐ | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ |
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Item 4. Ownership
(a) Amount Beneficially Owned:
As of the date hereof, BRC directly owned 1,065,540 shares of common stock of the Issuer. As of the date hereof, BRF may beneficially own the 1,065,540 shares of common stock of the Issuer which are held directly by BRC, one of BRF’s indirect wholly owned subsidiaries.
As of the date hereof, Bryant R. Riley may beneficially own 15,668,026 shares of common stock of the Issuer, of which (a) 14,602,486 shares of common stock of the Issuer are held jointly by Bryant R. Riley and his spouse, and (b) 1,065,540 shares of common stock of the Issuer are held directly by BRC in the manner specified in the paragraph above.
The foregoing should not be construed as an admission by any Reporting Person as to beneficial ownership of any shares of common stock of the Issuer owned by another Reporting Person. Each of the Reporting Persons disclaims beneficial ownership of the shares of common stock of the Issuer that are not directly owned by such Reporting Person, except to the extent of their pecuniary interest therein.
(b) Percent of Class:
As of the date hereof, BRC directly owned 0.3% of the outstanding shares of common stock of the Issuer. As of the date hereof, BRF as the parent company of BRC may be deemed to have beneficially owned 0.3% of the outstanding shares of common stock of the Issuer directly owned by BRC.
As of the date hereof, Bryant R. Riley may beneficially own 4.8% of the outstanding shares of common stock of the Issuer, including the shares of common stock of the Issuer held directly by BRC in the manner specified in the paragraph above.
The foregoing should not be construed as an admission by any Reporting Person as to beneficial ownership of any shares of common stock of the Issuer owned by another Reporting Person. Each of the Reporting Persons disclaims beneficial ownership of the shares of common stock of the Issuer that are not directly owned by such Reporting Person, except to the extent of their pecuniary interest therein.
(c) Number of shares as to which such person has:
| (i) |
Sole power to vote or to direct the vote: See cover page Items 5-9. |
| (ii) |
Shared power to vote or to direct the vote: See cover page Items 5-9. |
| (iii) |
Sole power to dispose or to direct the disposition of: See cover page Items 5-9. |
| (iv) |
Shared power to dispose or to direct the disposition of: See cover page Items 5-9. |
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☒.
Item 6. Ownership of more than Five Percent on Behalf of Another Person. Not Applicable.
Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. Not Applicable.
Item 8. Identification and classification of members of the group. Not Applicable.
Item 9. Notice of Dissolution of Group. Not Applicable.
Item 10. Certifications.
By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: February 11, 2022
| B. RILEY FINANCIAL, INC. | ||
| By: | /s/ Bryant R. Riley | |
| Name: | Bryant R. Riley | |
| Title: |
Co-Chief Executive Officer
| |
| B. RILEY & CO., LLC | ||
| By: | /s/ Bryant R. Riley | |
| Name: | Bryant R. Riley | |
| Title: | Chairman | |
| BRYANT R. RILEY | ||
| By: | /s/ Bryant R. Riley | |
Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001).
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