SALT LAKE CITY, Oct. 6, 2020 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK), a diversified software and services company,
tonight announced the pricing of its previously announced
underwritten public offering of 4,444,445 shares of common stock at
a public offering price of $9.00 per
share.
H.C. Wainwright & Co. is acting as the sole book-running
manager for the offering.
The gross proceeds are expected to be approximately $40.0 million, before deducting underwriting
discounts and commissions and other offering expenses payable by
the Company. The offering is expected to close on or about
October 9, 2020, subject to
satisfaction of customary closing conditions.
CleanSpark intends to use the net proceeds from the offering for
working capital requirements, the growth of CleanSpark's sales and
marketing team, product development including software enhancements
and improvements, and 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 securities 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
is being made only by means of a prospectus supplement and
accompanying prospectus. A preliminary prospectus supplement and
accompanying prospectus related to the offering were filed with the
SEC and a final prospectus supplement and accompanying prospectus
related to the offering will be filed with the SEC. Electronic
copies of the final prospectus supplement and accompanying
prospectus will be available on the SEC's website located at
http://www.sec.gov and may also be obtained, when available,
from H.C. Wainwright & Co., LLC, 430 Park
Avenue, New York, NY 10022, by email
at placements@hcwco.com or by phone at (646)
975-6996.
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.
About CleanSpark:
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.
Forward-Looking Statements:
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, our ability to satisfy the conditions to closing of the
offering and other matters affecting our ability to consummate the
offering; 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
1995.
Contact - Investor Relations:
CleanSpark Inc.
Investor Relations
(801)-244-4405
View original content to download
multimedia:http://www.prnewswire.com/news-releases/cleanspark-announces-pricing-of-40-0-million-underwritten-public-offering-301147254.html
SOURCE CleanSpark, Inc.