CleanSpark announced the pricing of $550 million 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. The initial conversion price is $14.80 per share, a 20% premium to the closing price. The company granted an option for an additional $100 million in notes.The net proceeds of approximately $535.9 million will be used to fund capped call transactions ($76.5 million), repurchase common stock ($145 million), repay a line of credit, and for capital expenditures and general corporate purposes. The notes are convertible into cash, shares, or a combination, at CleanSpark's election.In connection with the offering, CleanSpark entered into capped call transactions with a cap price of $24.66 per share, representing a 100% premium. The company also agreed to repurchase shares from certain investors at $12.33 per share. The offering is expected to close on December 17, 2024, subject to customary conditions.

CleanSpark announced the pricing of $550 million 0.00% Convertible Senior Notes due 2030 in a private offering to qualified institutional buyers. The initial conversion price is $14.80 per share, a 20% premium to the closing price. The company granted an option for an additional $100 million in notes.The net proceeds of approximately $535.9 million will be used to fund capped call transactions ($76.5 million), repurchase common stock ($145 million), repay a line of credit, and for capital expenditures and general corporate purposes. The notes are convertible into cash, shares, or a combination, at CleanSpark's election.In connection with the offering, CleanSpark entered into capped call transactions with a cap price of $24.66 per share, representing a 100% premium. The company also agreed to repurchase shares from certain investors at $12.33 per share. The offering is expected to close on December 17, 2024, subject to customary conditions.