GridFabric LLC acquisition with contingent earnout
Company: CleanSpark
The claim, verbatim
Acquired GridFabric, LLC for 26,427 shares of common stock and $400,000 in cash. Additional shares valued up to $750,000 will be issuable upon achievement of certain revenue and product release milestones.
Source (primary)
CleanSpark 424B5 filed 2020-10-06 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “As consideration for the transaction, we issued to its members, a total of 26,427 shares of our common stock and paid $400,000 in cash. Additional shares of the Company's common stock, valued at up to $750,000.00, will be issuable to Sellers if GridFabric achieves certain revenue and product release milestones related to the future performance of GridFabric.”
How we checked this
Checked on September 23, 2026. The cited source supports every part of this claim.
The prospectus states the GridFabric consideration of 26,427 shares and $400,000 cash, plus up to $750,000 in additional shares tied to revenue and product release milestones.
Confirmed in the source:
- CleanSpark acquired GridFabric, LLC
- Consideration included 26,427 shares of common stock issued to GridFabric's members
- Consideration included $400,000 in cash
- Additional shares valued at up to $750,000 are issuable if GridFabric achieves certain revenue and product release milestones
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357720000361/clsk_424b5.htm) in full (174,643 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 424B5 filed 2020-10-06
Quote: “As consideration for the transaction, we issued to its members, a total of 26,427 shares of our common stock and paid $400,000 in cash. Additional shares of the Company's common stock, valued at up to $750,000.00, will be issuable to Sellers if GridFabric achieves certain revenue and product release milestones related to the future performance of GridFabric.”