Summary by Futu AI
On June 26, 2024, CleanSpark, Inc., a Nevada-based corporation, announced the entry into a Merger Agreement with GRIID Infrastructure Inc., and Tron Merger Sub, Inc., a wholly owned subsidiary of CleanSpark. The agreement stipulates that Merger Sub will merge with GRIID, with GRIID surviving as the continuing corporation. GRIID stockholders will receive CleanSpark Common Stock in exchange for their shares at a determined Exchange Ratio. The merger is subject to customary closing conditions, including GRIID stockholder approval, SEC registration statement effectiveness, and Nasdaq listing authorization for the CleanSpark Common Stock to be issued. The merger also includes provisions for the vesting of GRIID restricted stock units and the conversion of GRIID options and warrants into CleanSpark stock equivalents. Concurrently, CleanSpark and...Show More