Pioneer Critical Power Inc. acquisition for switchgear business
Company: CleanSpark
The claim, verbatim
On January 22, 2019, acquired Pioneer Critical Power, Inc. for 175,000 shares of common stock and two five-year warrants (50,000 shares at $16.00/share and 50,000 shares at $20.00/share).
Source (primary)
CleanSpark 424B5 filed 2020-10-06 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “on January 22, 2019, we acquired the outstanding capital stock of Pioneer Critical Power, Inc., a Delaware corporation ("Pioneer")... we issued to its sole shareholder Pioneer Power Solutions, Inc. ("Pioneer Power") a total of 175,000 shares of our common stock, a 5-year warrant to purchase 50,000 shares of our common stock at an exercise price of $16.00 per share and a 5-year warrant to purchase 50,000 shares of our common stock at an exercise price of $20.00 per share.”
How we checked this
Checked on September 23, 2026. The cited source supports every part of this claim.
The prospectus gives the January 22, 2019 acquisition date and the consideration of 175,000 shares and two 5-year warrants for 50,000 shares each at $16.00 and $20.00.
Confirmed in the source:
- On January 22, 2019, CleanSpark acquired the outstanding capital stock of Pioneer Critical Power, Inc.
- Consideration included 175,000 shares of common stock issued to Pioneer Power Solutions, Inc.
- Consideration included a 5-year warrant to purchase 50,000 shares at $16.00 per share
- Consideration included a 5-year warrant to purchase 50,000 shares at $20.00 per share
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: “on January 22, 2019, we acquired the outstanding capital stock of Pioneer Critical Power, Inc., a Delaware corporation ("Pioneer")... we issued to its sole shareholder Pioneer Power Solutions, Inc. ("Pioneer Power") a total of 175,000 shares of our common stock, a 5-year warrant to purchase 50,000 shares of our common stock at an exercise price of $16.00 per share and a 5-year warrant to purchase 50,000 shares of our common stock at an exercise price of $20.00 per share.”