secwatch.observer — SEC 8-K summary
======================================

Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2024-12-13T23:59:59+00:00
Accession:  0000950170-24-136048
Event type: debt
Sentiment:  neutral
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark prices $550M zero-coupon convertible notes due 2030; conversion premium 20%
--------------------------------------------------------------------------------

- $550M 0.00% convertible senior notes due 2030, initial conversion price ~$14.80 per share (20% premium).
- Entered capped call transactions with cap price $24.66 (100% premium) to reduce potential dilution.
- Company agreed to repurchase ~$145M of its common stock from note investors at $12.33/share.
- Net proceeds ~$535.9M ($633.6M if upsize exercised); use includes repaying Coinbase line, capex, acquisitions.
- Offering expected to close Dec 17, 2024; initial purchasers have 13-day option for additional $100M in notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000095017024136048/0000950170-24-136048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000095017024136048/clsk-20241212.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-136048

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