secwatch.observer — SEC 8-K summary
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Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2025-11-13T23:59:59+00:00
Accession:  0001193125-25-280105
Event type: debt
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CleanSpark closes $1.15B zero-coupon convertible notes; repurchases 30.6M shares for $460M
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- Aggregate principal $1.15B of 0.00% Convertible Senior Notes due 2032; net proceeds ~$1.13B.
- Used $460M to repurchase 30.6M shares (≈10.9% of outstanding) from investors; no D&O shares bought.
- Initial conversion price ~$19.16/share (52.1832 shares per $1,000 principal).
- Remaining proceeds for power/land expansion, data center development, and bitcoin-backed credit repayment.
- Notes are unsecured, no interest, redeemable after Feb 20, 2029 if stock trades ≥130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000119312525280105/0001193125-25-280105-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000119312525280105/clsk-20251113.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-280105

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