CleanSpark (CLSK) Confirms Proposed Underwritten Public Offering of Common Stock

CleanSpark, Inc. (Nasdaq: CLSK), a diversified software and services company, today announced that it intends to offer and sell shares of its common stock in an underwritten registered public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

H.C. Wainwright & Co. is acting as the sole book-running manager for the proposed offering.

CleanSpark intends to use the net proceeds from the offering, if completed, for working capital requirements, the growth of CleanSpark's sales and marketing team, product development including software enhancements and improvements, general corporate purposes and strategic mergers and acquisitions, although CleanSpark has no present commitments or agreements to enter into any such mergers or acquisitions.

A shelf registration statement on Form S-3 (File No. 333-248975) relating to the shares being offered was filed with the U.S. Securities and Exchange Commission on September 23, 2020, and was declared effective on October 2, 2020.

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