Company: CLSKW
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0000950170-25-015470
Chunk: 68

Company: CLEANSPARK, INC.
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 1A
Chunk 68
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 business, financial condition, and results of operation. 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Offering of Convertible Senior Notes

On December 17, 2024, we completed the offering of the 2030 Notes. Additional information relating to the issuance of the 2030 Notes can be found in Note 10—Loans—2030 Convertible Note to our condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q, as well as in our Current Report on Form 8-K filed with the SEC on December 17, 2024.

Issuer Purchases of Equity Securities The follow table provides information on our share repurchases during the three months ended December 31, 2024:

    Total Number of Shares Purchased
     
    Average Price Paid Per Share(1)
     
    Total Number of Shares Purchased as Part of Publicly Announced Program(2)
     
    Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program(2)

    October 1, 2024 to October 31, 2024
    —
     
    $
    — 
     
    — 
     
    $
    — 

    November 1, 2024 to November 30, 2024
    —
     
    $
    — 
     
    — 
     
    $
    — 

    December 1, 2024 to December 31, 2024
    11,759,935
     
    $
    12.33
     
    — 
     
    $
    — 

    Total
    11,759,935

    — 

(1)Represents the use of approximately $145.0 million of the net proceeds from our convertible notes offering to repurchase shares of our common stock from investors in the 2030 Notes in privately negotiated transactions concurrently with the offering at a price per share of $12.33, which was the closing price per share of our common stock on December 12, 2024. The shares were repurchased at fair value, and the entire repurchase price was allocated to the repurchase of the shares.

(2)On December 9, 2024, our board of directors authorized the repurchase of our common stock from certain investors in the 2030 Notes in privately negotiated transactions. We used approximately $145.0 million of the net proceeds from the offering to rep