CleanSpark Announces Agreement to Acquire GRIID Infrastructure Based on an enterprise value of $155 Million and Expansion Plans of over 400 MW in Tennessee
GRIID Infrastructure Inc. (GRDI)
Company Research
Source: GlobeNewswire
As a result of the transaction Cleanspark expects to add over 400 MW in Tennessee over the next 2 years CleanSpark’s total announced, planned, and owned capacity now sits at over 1 GW of premium infrastructure in support of America’s rapidly advancing technological environment LAS VEGAS, June 27, 2024 (GLOBE NEWSWIRE) -- CleanSpark Inc. (Nasdaq: CLSK) (“CleanSpark”) and GRIID Infrastructure Inc. (Nasdaq: GRDI) (“GRIID”) announced today that they have entered into a definitive merger agreement pursuant to which CleanSpark will acquire all the issued and outstanding common stock of GRIID in an all-stock transaction. The total enterprise value, including payment and assumption of debt, of the transaction is $155 million. Concurrent with the signing of the merger agreement, the companies also entered into an exclusive hosting agreement for all currently available power, of which 20 MW will be allocated to CleanSpark effective immediately. Under the terms of the merger agreement, GRII
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GRDI
News
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates SPR, INFN, GRDI on Behalf of ShareholdersPR Newswire
- SHAREHOLDER INVESTIGATION: The M&A Class Action Firm Investigates Merger of GRIID Infrastructure, Inc. - GRDIPR Newswire
- GRIID INFRASTRUCTURE INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of GRIID Infrastructure Inc- GRDIBusiness Wire
- Lifshitz Law PLLC Announces Investigations of AGRX, GRDI, INFN, and SPRAccesswire
- SHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates INFN, SPR, GRDI, SHCR on Behalf of ShareholdersPR Newswire
GRDI
Sec Filings
- 7/2/24 - Form 8-K
- 7/2/24 - Form 425
- 6/27/24 - Form 425
- GRDI's page on the SEC website