What’s Going On With Shares Of Bitcoin Miner CleanSpark Tuesday?
CleanSpark Inc (NASDAQ:CLSK) shares are creeping higher in Tuesday’s after-hours session after the Bitcoin (CRYPTO: BTC) miner announced the closing of its convertible notes offering and provided an update on financing.
What Happened: After the market close on Tuesday, CleanSpark said it completed its previously announced offering of $650 million worth of 0.00% convertible senior notes due 2030.
The aggregate amount sold includes an additional $100 million sold to the initial purchasers after the purchasers exercised in full their option to purchase additional convertible notes.
In connection with the offering, CleanSpark entered into capped call transactions with various counterparties at a “cap price” of $24.66 per share. The capped calls are expected to reduce the potential dilution of the company’s common stock upon any conversion of the notes.
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