secwatch.observer — SEC 8-K summary
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Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2024-08-30T23:59:59+00:00
Accession:  0001193125-24-211220
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark issues Series X Preferred to director, reduces quorum to 1/3 for authorized share vote
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- Sold 1M shares of Series X Preferred to independent director Thomas Wood for $1,000; each share has 1,000 votes only on proposal to increase authorized common from 300M to 600M shares.
- Board amended bylaws to reduce stockholder meeting quorum from majority to one-third of voting power, effective Aug 28, 2024.
- Series X Preferred is non-convertible, pays no dividends, and is redeemable at $1,000 after the shareholder vote or at Board's discretion.
- The Series X Preferred will vote proportionally to common and Series A preferred votes on the authorized share increase; no other voting rights.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000119312524211220/0001193125-24-211220-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000119312524211220/d890188d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-211220

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