secwatch.observer — SEC 8-K summary
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Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2024-06-27T23:59:59+00:00
Accession:  0000950170-24-078178
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark to acquire GRIID Infrastructure in all-stock deal valued at $155M EV
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- Enterprise value of $155M including debt assumption; GRIID stockholders get CleanSpark shares based on exchange ratio using $16.587 VWAP.
- CleanSpark provided $5M working capital loan and ~$50.9M bridge loan to GRIID, secured and senior to other debt.
- Deal adds over 400 MW of power capacity in Tennessee over next 2 years; total announced capacity exceeds 1 GW.
- Expected to close in Q3 2024, subject to GRIID shareholder approval and customary conditions.
- GRIID operates bitcoin mining data centers in Tennessee and New York; CEO Zach Bradford cites community-first approach.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000095017024078178/0000950170-24-078178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000095017024078178/clsk-20240626.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-078178

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer