Summary by Moomoo AI
CleanSpark, Inc., a Nevada-based corporation, has completed a merger with GRIID Infrastructure Inc., with the latter surviving as a wholly owned subsidiary of CleanSpark. This merger, finalized on October 30, 2024, resulted in the conversion of GRIID's outstanding warrants into warrants for CleanSpark's common stock. These warrants, now known as the Company Public Warrants, allow holders to purchase shares of CleanSpark at $165.24 per share. The Company Public Warrants are set to expire on December 29, 2028, unless redeemed earlier under certain conditions, such as the common stock's price reaching or exceeding $18.00 per share for a specified period. CleanSpark has the option to require cashless exercise of the warrants under specific circumstances. The registration of these securities is in accordance with the Securities Exchange Act of 1934. The detailed terms and conditions of the Company Public Warrants are outlined in the Warrant Agreement between CleanSpark and Securities Transfer Corporation, which serves as the warrant agent.
