DivestmentMay 5, 2026, 05:22 PM
Applied Digital Spins Off Cloud Business to ChronoScale
AI Summary
Applied Digital Corporation announced the closing of its transaction to contribute its cloud business to EKSO Bionics Holdings, Inc. As a result, EKSO Bionics changed its name to ChronoScale Corporation and will trade under the ticker "CHRN." Applied Digital received approximately 138 million shares of ChronoScale common stock and invested an additional $15.75 million for 1.4 million shares, resulting in a 97% ownership stake. This strategic separation aims to allow each business to be capitalized and scaled appropriately, with ChronoScale focusing on AI compute platforms.
Key Highlights
- Applied Digital contributed its cloud business to EKSO Bionics Holdings, Inc.
- EKSO Bionics Holdings, Inc. changed its name to ChronoScale Corporation (CHRN).
- Applied Digital was issued approximately 138 million shares of ChronoScale common stock.
- Applied Digital invested an additional $15.75 million in cash for ~1.4 million ChronoScale shares.
- Applied Digital now owns approximately 97% of ChronoScale's outstanding common stock.
- ChronoScale Corporation will begin trading on Nasdaq Capital Market under ticker "CHRN" on May 5, 2026.
- ChronoScale will operate as an accelerated compute platform for demanding artificial intelligence workloads.