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

Issuer:     CLEANSPARK, INC. (CLSK)
CIK:        0000827876
Form:       8-K
Filed at:   2026-09-25T20:52:11+00:00
Accession:  0001193125-26-402944
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

CleanSpark unit closes $2.276B of 7.875% senior secured notes due 2031 to fund Sandersville data center
--------------------------------------------------------------------------------

- CSDC Finance I, LLC sold $2.276B aggregate principal of 7.875% senior secured notes due Oct 1, 2031, issued at 98.500% of par; interest payable April 1 and Oct 1, first payment April 1, 2027.
- Proceeds fund remaining cost of the Sandersville Facility data center in Sandersville, Georgia, reimburse CleanSpark for prior equity contributions, and fund debt service reserves.
- Notes amortize semi-annually after the Final Commencement Date to a target debt service coverage ratio; callable from Oct 1, 2028, with a make-whole before then and 40% equity clawback.
- CleanSpark gives a completion guarantee to fund the Issuer if proceeds fall short of completing the Sandersville Facility; change of control triggers a 101% repurchase offer.
- Indenture restricts the Issuer and Subsidiary Guarantor from additional debt, dividends, liens, asset sales, and holding assets unrelated to the Sandersville Facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/827876/000119312526402944/0001193125-26-402944-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/827876/000119312526402944/clsk-20260925.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-402944

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