Company: CLSKW
Filing Date: 2025-11-13
Form Type: 8-K
Source: 0001193125-25-280105
Chunk: 1

Company: CLEANSPARK, INC.
Filing Date: 2025-11-13
Form: 8-K
Item: Item 1.01
Chunk 1
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 shares of the Company’s common stock at an initial conversion rate of 52.1832 shares per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $19.16 per share of common stock). The conversion rate is subject to customary anti-dilution adjustments. In addition, following certain events that occur prior to the maturity date or if the Company delivers a notice of redemption, the conversion rate will increase for a holder that elects to convert its notes in connection with such corporate event or notice of redemption, as the case may be, in certain circumstances as provided in the Indenture.

Prior to August 15, 2031, the notes are convertible only upon the occurrence of certain events. On or after August 15, 2031, until the close of business on the second scheduled trading day immediately preceding the maturity date of the notes, holders may convert all or any portion of their notes at any time. Upon conversion of the notes, the Company will pay or deliver, as the case may be, cash, shares of the Company’s common stock, or a combination of cash and shares of the Company’s common stock, at the Company’s election.

Prior to February 20, 2029, the Company may not redeem the notes. The Company may redeem for cash all or any portion of the notes (subject to certain limitations), at its option, on or after February 20, 2029, if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect on each of at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides a notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption. The redemption price will be equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date.

If the Company undergoes a “fundamental change,” as defined in the Indenture, prior to maturity, subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their notes at a fundamental change repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus any accrued and unpaid special interest, if any, to, but excluding, the fundamental change