Summary by Moomoo AI
CleanSpark provides details regarding the November 7 trading halt of its securities by Nasdaq, which was partially lifted for common stock on November 11. The halt stemmed from documentation errors related to warrants acquired in the GRIID Infrastructure acquisition, not from any business or operational issues.The error involved the incorrect documentation of warrant terms, where 13.8 million warrants should each be exercisable for 0.069593885 shares at $165.24 per full share (approximately 14 warrants per full share). Initial filings incorrectly indicated each warrant was exercisable for one full share, and communications with Nasdaq mistakenly stated there would be 979,800 warrants outstanding instead of 13.8 million warrants.Upon discovering unusual trading activity in the warrants on November 7, the company identified the error and promptly alerted Nasdaq. The company filed an amended warrant agreement and Form 8-A/A on November 8 to correct the documentation. While common stock trading has resumed, the trading halt remains in effect for the warrants.
