← CleanSpark · FinancingEdit
Underwritten public offering of common stock at $20.68/share
Mar 18, 2021 · ClosedTerms of issuance
Instrument
Equity offering
Principal
$188.0M
Net proceeds
$187.2M
Issue date
Mar 18, 2021
Maturity
Seniority
Conversion ratio
n/a
Settlement
n/a
Economic analysis
Effective annual cost
n/acalculated: coupon + capped-call cost amortized over the note's life — needs coupon, maturity, and (if hedged) capped-call cost
Interest savings vs. plain debt
n/anot shown — would require an assumed comparable straight-debt rate, which we do not fabricate
Implied option value / volatility
n/anot shown — would require an assumed volatility input, which we do not fabricate
Breakeven
n/anot shown — would require assumed reinvestment/discount-rate assumptions, which we do not fabricate
Context
Shares outstanding (as of issue date)
24,232,523
Stock price / market cap (as of issue date)
n/ano price on or before the issue date
Use of proceeds
Other financing outstanding (excl. this instrument)
0.00% Convertible Senior Notes due 2030 ($650.0M), Coinbase bitcoin-backed line of credit (upsized) ($300.0M), Two Prime bitcoin-backed revolving credit facility ($100.0M), 0.00% Convertible Senior Notes due 2032 ($1.15B), 7.875% senior secured notes due 2031 (CSDC Finance I, LLC) ($2.28B)
— of which existing debt
$4.48B
Existing cash
n/anot tracked in the system yet
Anti-dilution adjustment terms
n/a
Related acquisition
none
Related deal
none
Related site
none
Sources
ClosedCleanSpark completes $187 million underwritten public offering
Mar 18, 2021