Use of proceeds from equity offering
Company: CleanSpark
The claim, verbatim
CleanSpark intends to use net proceeds from the stock offering for working capital, sales and marketing team growth, product development and software enhancements, general corporate purposes, and potential strategic acquisitions.
Source (primary)
CleanSpark 424B5 filed 2020-10-06 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “We expect to use the net proceeds from the Offering for working capital requirements, the growth of our sales and marketing team, product development including software enhancements and improvements, general corporate purposes and strategic mergers and acquisitions, although we have no present commitments or agreements to enter into any such mergers or acquisitions,.”
How we checked this
Checked on September 23, 2026. The cited source supports every part of this claim.
The prospectus lists these uses of proceeds verbatim and notes there are no present commitments for any mergers or acquisitions.
Confirmed in the source:
- CleanSpark expects to use net proceeds for working capital requirements
- Proceeds are intended for growth of the sales and marketing team
- Proceeds are intended for product development including software enhancements and improvements
- Proceeds are intended for general corporate purposes
- Proceeds may be used for strategic mergers and acquisitions, with no present commitments to any
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: “We expect to use the net proceeds from the Offering for working capital requirements, the growth of our sales and marketing team, product development including software enhancements and improvements, general corporate purposes and strategic mergers and acquisitions, although we have no present commitments or agreements to enter into any such mergers or acquisitions,.”