CleanSpark announces completion of $1.15 billion zero-coupon convertible bond issuance and repurchase of over 30 million shares
ChainCatcher news, CleanSpark, Inc. (NASDAQ: CLSK) announced the completion of its upsized $1.15 billion convertible senior notes offering, with the notes due in 2032. The net proceeds from the offering are approximately $1.13 billion. The company plans to use the funds, excluding those allocated for repurchase, to expand its power and land portfolio, build data center infrastructure, repay bitcoin-backed credit lines, and for general corporate purposes. At the same time, the company repurchased approximately 30.6 million shares of common stock (about 10.9% of the outstanding shares), at a cost of approximately $460 million.
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