Pioneer Critical Power intellectual property and customer list acquisition
Company: CleanSpark
The claim, verbatim
On January 22, 2019, CleanSpark acquired certain intellectual property assets and a customer list from Pioneer Critical Power, Inc. As consideration, the Company issued 175,000 common shares and two five-year warrants (50,000 shares at $16.00 exercise price and 50,000 shares at $20.00 exercise price). Pioneer Critical Power Inc. became a wholly owned subsidiary of CleanSpark Inc.
Source (primary)
CleanSpark 10-K filed 2019-12-16 (SEC EDGAR, sec_filing)
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Quote: “On January 22, 2019, CleanSpark entered into an Agreement with Pioneer Critical Power, Inc., whereby it acquired certain intellectual property assets and a customer list. As consideration the Company issued to its sole shareholder (i) 175,000 of the common stock of CleanSpark, (ii) a five-year warrant to purchase 50,000 shares of CleanSpark common stock at an exercise price of $16.00 per share, and (iii) a five-year warrant to purchase 50,000 shares of CleanSpark common stock at an exercise price of $20.00 per share. As a result of the transaction Pioneer Critical Power Inc. became a wholly owned subsidiary of CleanSpark Inc.”
How we checked this
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Additional evidence
confirms CleanSpark 10-K filed 2019-12-16
Quote: “On January 22, 2019, CleanSpark entered into an Agreement with Pioneer Critical Power, Inc., whereby it acquired certain intellectual property assets and a customer list. As consideration the Company issued to its sole shareholder (i) 175,000 of the common stock of CleanSpark, (ii) a five-year warrant to purchase 50,000 shares of CleanSpark common stock at an exercise price of $16.00 per share, and (iii) a five-year warrant to purchase 50,000 shares of CleanSpark common stock at an exercise price of $20.00 per share. As a result of the transaction Pioneer Critical Power Inc. became a wholly owned subsidiary of CleanSpark Inc.”