SALT LAKE CITY, March 15, 2021 /PRNewswire/ -- CleanSpark, Inc.
(Nasdaq: CLSK) ("CleanSpark"), a diversified software, services,
and bitcoin mining company, today announced the pricing of its
previously announced underwritten public offering of 9,090,910
shares of common stock at a public offering price of $22.00 per share.
CleanSpark Raises $200M in Growth
Capital in Underwritten Offering
H.C. Wainwright & Co. is acting as the sole book-running
manager for the offering.
The gross proceeds are expected to be approximately $200 million, before deducting underwriting
discounts and commissions and other offering expenses payable by
the Company. The offering is expected to close on or about
March 18, 2021, subject to
satisfaction of customary closing conditions.
CleanSpark intends to use the net proceeds from the offering for
working capital and general corporate purposes, including
infrastructure expansion, the acquisition of additional
cryptocurrency miners and further development of its mVoult product
lines, as well as acquisitions or strategic investments in
complimentary businesses, products, services or technologies.
An automatic shelf registration statement on Form S-3 (File No.
333-254290) relating to the securities being offered was filed with
the U.S. Securities and Exchange Commission (the "SEC") on
March 15, 2021, which became
effective upon filing. The offering is being made only by
means of a prospectus supplement and accompanying prospectus that
form a part of the automatic shelf registration statement.
Copies of the final prospectus supplement and accompanying
prospectus relating to the proposed offering, when available, may
be obtained from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by email
at firstname.lastname@example.org or by phone at (646)
975-6996. Before you invest, you should read the final
prospectus supplement and accompanying prospectus and the other
documents that CleanSpark has filed with the SEC for more complete
information about CleanSpark and the proposed offering.
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, Inc., a Nevada corporation, is in the
business of providing advanced software and controls technology
solutions to solve modern energy challenges. CleanSpark has a
suite of software solutions that provide end-to-end microgrid
energy modeling, energy market communications, and energy
management solutions. CleanSpark's offerings consist of
intelligent energy monitoring and controls, intelligent microgrid
design software, middleware communications protocols for the energy
industry, energy system engineering, custom hardware solutions,
microgrid installation and implementation services, traditional
data center services and software consulting services.
The Company and its subsidiaries also own and operate a fleet of
Bitcoin miners at its facility outside of Atlanta,
This release contains forward-looking statements as defined in
the Private Securities Litigation Reform Act of 1995, including
statements regarding the Company's public offering and other
statement regarding the expectations, beliefs, plans, intentions
and strategies of the Company. The Company has tried to
identify these forward-looking statements by using words such as
"expect," "target," "anticipate," "believe," "could," "should,"
"estimate," "intend," "may," "will," "plan," "goal" and similar
terms and phrases, but such words, terms and phrases are not the
exclusive means of identifying such statements. Actual
results, performance and achievements could differ materially from
those expressed in, or implied by, these forward-looking statements
due to a variety of risks, uncertainties and other factors,
including, without limitation, risks that the proposed offering is
not completed due to market conditions, failure to satisfy the
conditions to closing of the offering or other factors and other
risks described in the Company's prior press releases and in its
filings with the SEC, including under the heading "Risk Factors" in
the Company's preliminary prospectus supplement and accompanying
prospectus related to the proposed offering and any other 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 the Company undertakes no obligation to revise or
update this press release (including any forward-looking statements
contained herein) to reflect events or circumstances after the date
hereof. Furthermore, the Company cannot guarantee future
results, events, levels of activity, performance, projections or
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SOURCE CleanSpark, Inc.