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:  0000950170-24-078530
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark to acquire GRIID Infrastructure in ~$155M stock-for-stock merger
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- Aggregate consideration of ~$155M minus GRIID net debt; closing expected by March 31, 2025, subject to shareholder and regulatory approvals.
- CleanSpark provides $55.9M senior secured term loan to GRIID at 8.5% interest, maturing June 2025 or 90 days after deal termination.
- Colocation hosting agreement: CleanSpark will host mining equipment at GRIID facilities; initial 1-year term with auto-renewal; $1M refundable deposit.
- Voting agreements with Griid Holdings (42.34%) and Adit EdTech (9.78%) securing ~52% of GRIID shares to vote in favor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000095017024078530/0000950170-24-078530-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000095017024078530/clsk-20240626.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-078530

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