CleanSpark acquires GRIID Infrastructure Inc.
Company: CleanSpark
The claim, verbatim
CleanSpark entered into a merger agreement dated June 26, 2024 to acquire GRIID Infrastructure Inc. Merger Sub will merge with and into GRIID, with GRIID surviving as a direct, wholly owned subsidiary of CleanSpark. Aggregate merger consideration is $155 million minus GRIID's outstanding liabilities (net of cash) plus up to $5 million in severance obligations.
Source (primary)
CleanSpark 424B3 filed 2024-09-23 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “On June 26, 2024, GRIID Infrastructure Inc. ("GRIID"), CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc., a direct, wholly owned subsidiary of CleanSpark ("Merger Sub"), entered into a merger agreement under which, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into GRIID, with GRIID surviving as a direct, wholly owned subsidiary of CleanSpark (the "merger")...The term "aggregate merger consideration" means the quotient obtained by dividing (x) the sum of (i) $155,000,000 minus (ii) the amount of GRIID's outstanding liabilities as of the closing date of the merger (net of cash on hand), including all indebtedness (as defined in the merger agreement), plus up to $5 million in severance obligations that would be due and payable upon termination of certain employees identified by CleanSpark prior to the closing date”
How we checked this
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Additional evidence
confirms CleanSpark 424B3 filed 2024-09-23
Quote: “On June 26, 2024, GRIID Infrastructure Inc. ("GRIID"), CleanSpark, Inc. ("CleanSpark") and Tron Merger Sub, Inc., a direct, wholly owned subsidiary of CleanSpark ("Merger Sub"), entered into a merger agreement under which, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into GRIID, with GRIID surviving as a direct, wholly owned subsidiary of CleanSpark (the "merger")...The term "aggregate merger consideration" means the quotient obtained by dividing (x) the sum of (i) $155,000,000 minus (ii) the amount of GRIID's outstanding liabilities as of the closing date of the merger (net of cash on hand), including all indebtedness (as defined in the merger agreement), plus up to $5 million in severance obligations that would be due and payable upon termination of certain employees identified by CleanSpark prior to the closing date”