CleanSpark prices $2.28B in senior secured notes due 2031

CleanSpark, Inc. (Nasdaq: CLSK) announced that its wholly owned subsidiary, CSDC Finance I, LLC, has priced a $2.276 billion offering of 7.875% senior secured notes due 2031 at 98.500% of their principal amount, according to a company press release.

The notes are being sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933, and to non-U.S. persons outside the United States under Regulation S. The offering is expected to close on September 25, 2026, subject to customary closing conditions.

The company said proceeds from the offering will be used to finance the remaining buildout of a data center facility in Sandersville, Georgia, reimburse the company for prior equity contributions made toward that facility, and fund debt service reserves.

The notes will be fully and unconditionally guaranteed by CSRE Properties Sandersville, LLC, a wholly owned direct subsidiary of the issuer, and secured by first-priority liens on substantially all assets of the issuer and CSRE Properties Sandersville, as well as all equity interests of the issuer held by its direct parent company, CSDC Holdings I, LLC.

CleanSpark will provide a completion guarantee for the Sandersville facility, committing to fund the issuer if note proceeds prove insufficient to complete the project on time.

The notes have not been registered under the Securities Act or securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption.

You May Also Be Interested In

• Onconetix advances $500K more to Realbotix, total now $3M
• Perspective Therapeutics reports Phase 1/2a trial data for NET drug
• Takeda's TAK-921 meets dual endpoints in gastric cancer trial