CleanSpark to Acquire Griid Infrastructure in All-Stock Transaction

MT Newswires Live06-27

CleanSpark (CLSK) and Griid Infrastructure (GRDI), a bitcoin mining data centers operator, have signed a merger agreement under which CleanSpark will acquire all the issued and outstanding common shares of Griid in an all-stock transaction for a total enterprise value of $155 million, the companies said Thursday.

Additionally, 20 megawatts of power will be allocated to CleanSpark under an exclusive hosting agreement with Griid, effective immediately, the companies added.

CleanSpark, which will assume all outstanding debt of Griid, also provided a $5 million working capital loan to Griid and a pay-down bridge loan of roughly $50.9 million, the companies said.

The boards of directors of both companies approved the deal, which is expected to be completed in Q3, CleanSpark and Griid said.

CleanSpark's shares were down 6.5% in recent trading.

Price: 14.68, Change: -1.02, Percent Change: -6.49

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2446555886?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-06-27 21:55","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2446555886","market":"hk","top_or_hot":-1,"title":"CleanSpark to Acquire Griid Infrastructure in All-Stock Transaction","media":"MT Newswires Live","content":"<html><body><p> CleanSpark (CLSK) and Griid Infrastructure (GRDI), a bitcoin mining data centers operator, have signed a merger agreement under which CleanSpark will acquire all the issued and outstanding common shares of Griid in an all-stock transaction for a total enterprise value of $155 million, the companies said Thursday.</p><p>Additionally, 20 megawatts of power will be allocated to CleanSpark under an exclusive hosting agreement with Griid, effective immediately, the companies added.</p><p>CleanSpark, which will assume all outstanding debt of Griid, also provided a $5 million working capital loan to Griid and a pay-down bridge loan of roughly $50.9 million, the companies said.</p><p>The boards of directors of both companies approved the deal, which is expected to be completed in Q3, CleanSpark and Griid said.</p><p>CleanSpark's shares were down 6.5% in recent trading.</p><p>Price: 14.68, Change: -1.02, Percent Change: -6.49</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>CleanSpark to Acquire Griid Infrastructure in All-Stock Transaction</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCleanSpark to Acquire Griid Infrastructure in All-Stock Transaction\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-27 21:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CleanSpark (CLSK) and Griid Infrastructure (GRDI), a bitcoin mining data centers operator, have signed a merger agreement under which CleanSpark will acquire all the issued and outstanding common ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4023","symbol_name":"应用软件","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2446555886","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446555886","pubTimestamp":1719496538,"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"CleanSpark (CLSK) and Griid Infrastructure (GRDI), a bitcoin mining data centers operator, have signed a merger agreement under which CleanSpark will acquire all the issued and outstanding common shar","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件","CLSK":"CleanSpark, Inc.","GRDI":"GRIID INFRASTRUCTURE INC.","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4595":"比特币概念"},"translate_title":"CleanSpark将通过全股票交易收购Griid基础设施","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CLSK":0.9,"GRDI":0.9},"content_text":"CleanSpark (CLSK) and Griid Infrastructure (GRDI), a bitcoin mining data centers operator, have signed a merger agreement under which CleanSpark will acquire all the issued and outstanding common shares of Griid in an all-stock transaction for a total enterprise value of $155 million, the companies said Thursday.Additionally, 20 megawatts of power will be allocated to CleanSpark under an exclusive hosting agreement with Griid, effective immediately, the companies added.CleanSpark, which will assume all outstanding debt of Griid, also provided a $5 million working capital loan to Griid and a pay-down bridge loan of roughly $50.9 million, the companies said.The boards of directors of both companies approved the deal, which is expected to be completed in Q3, CleanSpark and Griid said.CleanSpark's shares were down 6.5% in recent trading.Price: 14.68, Change: -1.02, Percent Change: -6.49","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446555886"}