Business
CleanSpark Announces Closing of $40.0 Million Underwritten Public Offering
SALT LAKE CITY, Oct. 9, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced the closing of its
About this update from Cleanspark, Inc.
[{"type":"text","content":"SALT LAKE CITY, Oct. 9, 2020 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced the closing 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 for aggregate gross proceeds of approximately $40.0 million. \n\n \n \n \n \n \n \n\n \nCleanSpark Announces $40M Underwritten Public OfferingH.C. Wainwright & Co. acted as the sole book-running manager for the offering.\nCleanSpark 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.\nA shelf registration statement on Form S-3 (File No. 333-248975) relating to the securities 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 final prospectus supplement and accompanying prospectus related to the offering have been filed with the SEC and are available on the SEC's website located at http://www.sec.gov and may also be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at [email protected] or by phone at (646) 975-6996.\nProcopio, Cory, Hargreaves & Savitch LLP served as legal counsel to CleanSpark and Ellenoff Grossman & Schole LLP served as legal counsel to H.C. Wainwright & Co. in connection with the offering.\nThis 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.\nAbout CleanSpark:\nCleanSpark 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 th...