secwatch.observer — SEC 8-K summary
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Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2024-12-17T23:59:59+00:00
Accession:  0000950170-24-137362
Event type: debt
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark closes $650M zero-coupon convertible note offering; repurchases $145M of stock
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- $650M aggregate principal of 0.00% Convertible Senior Notes due 2030, including $100M greenshoe exercised.
- Net proceeds ~$633.6M; used $90.4M for capped calls, $145M to buy back 11.76M shares, and to repay $50M Coinbase line.
- Initial conversion price ~$14.80 per share; cap price of capped calls $24.66 (100% premium over $12.33 Dec 12 close).
- CEO says growth to 50 EH/s fully funded; no immediate plans for another equity offering.
- Company expects no net dilution if conversions settled in cash and shares, until stock exceeds $33.67.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000095017024137362/0000950170-24-137362-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000095017024137362/clsk-20241217.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-137362

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