Acquisition of Pioneer Critical Power, Inc.
Company: CleanSpark
The claim, verbatim
On January 22, 2019, CleanSpark acquired Pioneer Critical Power, Inc. (renamed CleanSpark Critical Power Systems Inc.), issuing 1,750,000 shares of common stock, a 5-year warrant to purchase 500,000 shares at $1.60 exercise price, and a 5-year warrant to purchase 500,000 shares at $2.00 exercise price to Pioneer Power Solutions, Inc.
Source (primary)
CleanSpark 10-Q filed 2020-02-10 (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"), which we have since renamed and redomiciled to the State of Nevada and changed the name to CleanSpark Critical Power Systems Inc...we issued to its sole shareholder Pioneer Power Solutions, Inc. ("Pioneer Power") a total of 1,750,000 shares of our common stock, a 5-year warrant to purchase 500,000 shares of our common stock at an exercise price of $1.60 per share and a 5-year warrant to purchase 500,000 shares of our common stock at an exercise price of $2.00 per share.”
How we checked this
Checked on September 23, 2026. The cited source supports every part of this claim.
The filing's management discussion states each of these terms. Elsewhere the same filing gives split-adjusted figures (175,000 shares and warrants for 50,000 shares each at $16.00 and $20.00) reflecting the 1:10 reverse split of December 2019.
Confirmed in the source:
- On January 22, 2019, CleanSpark acquired the outstanding capital stock of Pioneer Critical Power, Inc.
- Pioneer Critical Power, Inc. was renamed CleanSpark Critical Power Systems Inc.
- CleanSpark issued 1,750,000 shares of its common stock to Pioneer Power Solutions, Inc., the sole shareholder
- CleanSpark issued a 5-year warrant to purchase 500,000 shares at an exercise price of $1.60 per share
- CleanSpark issued a 5-year warrant to purchase 500,000 shares at an exercise price of $2.00 per share
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357720000033/clsk10q.htm) in full (113,627 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 10-Q filed 2020-02-10
Quote: “on January 22, 2019 we acquired the outstanding capital stock of Pioneer Critical Power, Inc., a Delaware corporation ("Pioneer"), which we have since renamed and redomiciled to the State of Nevada and changed the name to CleanSpark Critical Power Systems Inc...we issued to its sole shareholder Pioneer Power Solutions, Inc. ("Pioneer Power") a total of 1,750,000 shares of our common stock, a 5-year warrant to purchase 500,000 shares of our common stock at an exercise price of $1.60 per share and a 5-year warrant to purchase 500,000 shares of our common stock at an exercise price of $2.00 per share.”