ConvertibleActiveBTC
0% Convertible Notes due 2030
CLSK-Jun30
BTC Holdings
13,561 BTC
Total Debt
$1.81B
Leverage
140.4%
mNAV
2.66x
Outstanding
$650.00M
Insufficient history
Issue date
2024-12-17
Principal
$650.00M
Coupon
0.00%
Maturity
2030-06-15
Conversion price
$14.8
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- None (zero coupon)
- Rate type
- Fixed
- Forced conversion
- On or after Jun 20 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- On Jun 15 2028 at par; upon fundamental change at par
- Use of proceeds
- Capped call transactions, share repurchase, repayment of Coinbase credit line, capital expenditures, potential acquisitions and general corporate purposes
- Capped call
- Cap price $24.66/share (100% premium over $12.33 closing on Dec 12 2024); cost $90.4M
Sources(2)
- Form 8-K ($650M conv note…FilingForm 8-K ($650M conv notes closing)CleanSpark, Inc. — 2024-12-17
- Form 10-K (FY 2025)FilingForm 10-K (FY 2025)Note 13 — IndebtednessCleanSpark, Inc. — 2025-11-25
Participants
Holders & Underwriters(1)
- Form 8-K ($650M conv note…Cantor Fitzgerald & Co.underwriter$650Mas of 2024-12-17
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding | Source |
|---|---|---|---|
| 2024-12-17 | Issuance | $650.00M | Form 8-K ($650M conv note… |
- 2024-12-17 — $650,000,000filing — CleanSpark, Inc.Source