Applied Digital Corporation Acquires 97.5% Stake in ChronoScale Corporation via Business Combination

On May 12, 2026, Applied Digital Corporation filed a Schedule 13D reporting a 97.5% stake in ChronoScale Corporation (formerly Ekso Bionics Holdings, Inc.). The acquisition resulted from a business combination closed on May 5, 2026, where Applied Digital exchanged its subsidiary, Applied Digital Cloud Corporation, for 138,216,820 shares of the issuer. Additionally, the filer purchased 1,311,407 shares for approximately $15.75 million in a private placement at $12.01 per share. Following these transactions, ChronoScale is a 'controlled company' under Nasdaq rules. An Investor Rights Agreement grants Applied Digital the right to designate four of seven board directors, including the Chairman, Wesley Cummins. The filer also entered into a Management Advisory and Corporate Services Agreement with the issuer. The reporting person intends to review the investment continuously and may consider strategic alternatives, including extraordinary corporate transactions or further acquisitions of securities. This filing marks a significant change in control and corporate identity for the issuer.