Pioneer Custom Electric Products Corp asset acquisition with specified consideration
Company: CleanSpark
What the later record shows
Outcome not yet confirmed
No passage says the asset purchase from Pioneer Custom Electric Products Corp closed. P5 describes a different deal: a January 2019 agreement with Pioneer Critical Power, Inc. for IP and client lists, which no passage ties to this one.
“On January 22, 2019, CleanSpark entered into an agreement with Pioneer Critical Power, Inc., whereby it acquired certain intellectual property assets and client lists.”
2021-08-15 · CleanSpark 10-Q filed 2021-08-16 View cached copy (2026-09-13)Live source ↗
Checked October 9, 2026 against filings, releases and reporting published after the claim was made. Quotes are verbatim from the linked documents.
The claim, verbatim
CleanSpark entered into an asset purchase agreement to acquire business assets from Pioneer Custom Electric Products Corp, with consideration including 7,000,000 shares valued at $5,600,000, two five-year warrants for 1,000,000 shares each at $1.60 and $2.00 exercise prices, an 18-month promissory note, and equipment lease, with expected closing on January 16, 2018
Source (primary)
CleanSpark 424B2 filed 2018-12-31 (SEC EDGAR, sec_filing)
View cached copy (2026-09-13)Live source ↗
Quote: “We recently entered into an asset purchase agreement with Pioneer Custom Electric Products Corp., as amended, and will acquire the following assets... we agreed to the following consideration: an 18-month promissory note... 7,000,000 shares of our Common Stock based on an agreed upon value of $0.80 per share, for a total agreed upon value of $5,600,000; a five-year warrant to purchase 1,000,000 shares of our Common Stock at an exercise price of $1.60 per share; and a five-year warrant to purchase 1,000,000 shares of our Common Stock at an exercise price of $2.00 per share... The closing of the transactions contemplated by the Purchase Agreement is currently expected to occur on January 16, 2018”
How we checked this
Checked on October 11, 2026. The cited source supports every part of this claim.
The prospectus supplement summary describes the Pioneer asset purchase agreement and lists every element of consideration and the expected January 16, 2018 closing date exactly as the claim states. The filing is dated December 31, 2018 but still gives that earlier expected closing date, and it does not say whether the deal actually closed.
Confirmed in the source:
- CleanSpark entered into an asset purchase agreement, as amended, with Pioneer Custom Electric Products Corp. to acquire business assets
- Consideration included 7,000,000 shares of CleanSpark common stock at an agreed value of $0.80 per share, totaling $5,600,000
- Consideration included a five-year warrant for 1,000,000 shares at a $1.60 exercise price
- Consideration included a five-year warrant for 1,000,000 shares at a $2.00 exercise price
- Consideration included an 18-month promissory note
- Consideration included an equipment lease agreement
- Closing was stated as expected to occur on January 16, 2018
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/827876/000166357719000011/mainbody.htm) in full (186,484 characters, retrieved September 13, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms CleanSpark 424B2 filed 2018-12-31
Quote: “We recently entered into an asset purchase agreement with Pioneer Custom Electric Products Corp., as amended, and will acquire the following assets... we agreed to the following consideration: an 18-month promissory note... 7,000,000 shares of our Common Stock based on an agreed upon value of $0.80 per share, for a total agreed upon value of $5,600,000; a five-year warrant to purchase 1,000,000 shares of our Common Stock at an exercise price of $1.60 per share; and a five-year warrant to purchase 1,000,000 shares of our Common Stock at an exercise price of $2.00 per share... The closing of the transactions contemplated by the Purchase Agreement is currently expected to occur on January 16, 2018”