Cleanspark Subsidiary Proposes $222.7 Million Senior Secured Bond Due 2031

Cleanspark ($CLSK)'s indirect subsidiary CSDC Finance I, LLC is advancing a private placement of $222.7 million senior secured bonds due 2031. Cleanspark disclosed in an August 17 Form 8-K filing that the offering will proceed based on market conditions and other factors. The company plans to issue the bonds under Rule 144A for qualified institutional buyers in the U.S., and Regulation S for international investors.

Cleanspark stated the net proceeds from the bond sale will be used to cover remaining construction costs at the Sandersville data center, preserve existing capital investments, and establish a debt repayment reserve.