SALT LAKE CITY, Oct. 6, 2020 /PRNewswire/ -- CleanSpark, Inc.
(Nasdaq: CLSK), a diversified software and services company, today
announced that it intends to offer and sell shares of its common
stock in an underwritten registered public offering. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
H.C. Wainwright & Co. is acting as the sole book-running
manager for the proposed offering.
CleanSpark intends to use the net proceeds from the offering, if
completed, for working capital requirements, the growth of
CleanSpark's sales and marketing team, product development
including software enhancements and improvements, general corporate
purposes and strategic mergers and acquisitions, although
CleanSpark has no present commitments or agreements to enter into
any such mergers or acquisitions.
A shelf registration statement on Form S-3 (File No. 333-248975)
relating to the shares being offered was filed with the U.S.
Securities and Exchange Commission on September 23, 2020, and was declared effective on
October 2, 2020. The offering
will be made only by means of a prospectus supplement and
accompanying prospectus. A preliminary prospectus supplement and
accompanying prospectus related to the offering will be filed with
the SEC and will be available on the SEC's website located at
http://www.sec.gov. Alternatively, electronic copies of the
preliminary prospectus supplement and the accompanying prospectus,
when available, may be obtained from H.C. Wainwright &
Co., LLC, 430 Park Avenue, New York, NY 10022, by
email at email@example.com or by phone at (646)
This press release shall not constitute an offer to sell or
the solicitation of an offer to buy these securities, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any
such state or jurisdiction.
CleanSpark offers software and intelligent controls for
microgrid and distributed energy resource management systems and
innovative strategy and design services. The Company provides
advanced energy software and control technology that allows energy
users to obtain resiliency and economic optimization. Our software
is uniquely capable of enabling a microgrid to be scaled to the
user's specific needs and can be widely implemented across
commercial, industrial, military, agricultural and municipal
deployment. Our product and services consist of intelligent energy
controls, microgrid modeling software, and innovation consulting
services in design, technology, and business process methodologies
to help transform and grow businesses.
CleanSpark cautions you that statements in this press release
that are not a description of historical facts are forward-looking
statements. These statements are based on CleanSpark's current
beliefs and expectations. The inclusion of forward-looking
statements should not be regarded as a representation by CleanSpark
that any of our plans will be achieved. Actual results may differ
from those set forth in this press release as a result of various
important factors, including, without limitation: market conditions
that may affect the timing, terms and conditions of the offering,
our ability to satisfy the conditions to closing of the offering
and other matters affecting our ability to consummate the offering
on terms acceptable to us; and other risks described in our prior
press releases and in our filings with the Securities and Exchange
Commission (SEC), including under the heading "Risk Factors" in our
Annual Report on Form 10-K and any subsequent filings with the SEC.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and we undertake no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
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SOURCE CleanSpark, Inc.