CleanSpark Announces Pricing of $40.0 Million Underwritten Public Offering

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 and may also be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, New York, NY 10022, by email at 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.


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