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CLEANSPARK, INC. · CLSK · 8-K · Filed

Prices $2.276B of 7.875% senior secured notes due 2031

CLSK
8-K
Financing

Source: SEC EDGAR, accession 0001193125-26-395727 · Items 8.01, 9.01

What did CLEANSPARK, INC. announce?

CleanSpark's subsidiary CSDC Finance I priced $2.276 billion of 7.875% senior secured notes due 2031 at 98.500% of principal, with proceeds funding the Sandersville data center build-out.

Key details

  • Notes priced at 98.500% of principal, carry a 7.875% coupon, mature 2031, and are expected to close September 25, 2026.
  • Net proceeds will finance the remaining cost of the Sandersville Facility build-out, reimburse CleanSpark for prior equity contributions to that facility, and fund debt service reserves.
  • The notes are fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC and secured by first-priority liens on substantially all assets of the issuer and guarantor plus all equity interests of the issuer held by CSDC Holdings I, LLC.
  • CleanSpark is providing a completion guarantee obligating it to fund the issuer if note proceeds are insufficient to complete the Sandersville Facility; the notes were sold privately under Rule 144A and Regulation S.

Why it matters

This 8-K reports a financing at CLEANSPARK, INC.. The likely share-price reaction reads as neutral.

Neutral

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