Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 114

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 8
Chunk 114
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 share)
         
        GRIID

        Shares of CleanSpark common stock issued

        5,031

        Closing price per share of CleanSpark common stock on October 30, 2024
         
        $
        12.06

        Fair value of CleanSpark common share issued as a portion of purchase price
         
        $
        60,677

        Fair value of CleanSpark warrants issued as a portion of purchase price

        6,097

        Fair value of equity portion of purchase price

        66,774

        Cash consideration

        1

        Settlement of amounts payable by Company to GRIID under Hosting Agreement

        (1,164
        )

        Settlement of the GRIID Credit Agreement as a portion of purchase price

        62,636

        Settlement of preexisting relationship, including interest, as a portion of purchase price

        61,472

        Preliminary purchase price
         
        $
        128,247

      The amounts in the table below represent the preliminary allocation of the purchase price to the acquired assets and liabilities assumed based on their preliminary respective estimated fair values on the date of acquisition. Certain of the amounts are subject to revision during the remainder of the measurement period, a period not to exceed 12 months from the acquisition date.Adjustments to the provisional values, which may include other long-term assets, deferred taxes, income tax payables, and other estimates, during the measurement period will be recorded in the reporting period in which the adjustment amounts are determined. Changes to amounts recorded as assets and liabilities may result in a corresponding adjustment to goodwill.

F-14

The excess purchase price over the net assets acquired has been recorded as goodwill. The preliminary net assets acquired as of the acquisition date are presented as follows:

        ($ in thousands)
         
        Allocation as of October 30, 2024

        Tangible assets

        Cash and cash equivalents
         
        $
        1,089

        Restricted cash

        323

        Accounts receivable

        172

        Prepaid expense and other current assets

        193

        Property and equipment

        18,493

        Other long-term assets

        5,593

        Operating lease right of use assets

        1,100

        Total tangible assets acquired

        26,963

        Intangible assets

        Goodwill

        127,208

        Total assets acquired

        154