SALT LAKE CITY, March 18, 2021 /PRNewswire/ -- CleanSpark,
Inc. (Nasdaq: CLSK) ("CleanSpark"), a diversified software,
services, and bitcoin mining company, today announced the closing
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 for aggregate gross
proceeds of approximately $200
million, before deducting underwriting discounts and
commissions and other offering expenses payable by the Company.
CleanSpark Successfully Closes $200M
Equity Raise For Growth.
H.C. Wainwright & Co. acted as the sole book-running manager
for the offering.
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 was filed with the U.S.
Securities and Exchange Commission (the "SEC") on March 15, 2021 and became effective upon
filing. The offering was made only by means of a prospectus
supplement and accompanying prospectus that form a part of the
automatic shelf registration statement. Electronic copies of
the final prospectus supplement and accompanying prospectus
relating to the offering 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 (212)
Katten Muchin Rosenman LLP served as legal counsel to CleanSpark
in connection with the offering, Procopio, Cory, Hargreaves &
Savitch LLP also represented CleanSpark in respect of matters
relating to the offering, and Skadden, Arps, Slate, Meagher &
Flom LLP served as legal counsel to H.C. Wainwright & Co. in
connection with the 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.
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 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 relating to the use of proceeds from the
offering 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 prospectus supplement and
accompanying prospectus related to the 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 achievements.
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SOURCE CleanSpark, Inc.