CleanSpark Announces Proposed $2.227 Billion Senior Secured Notes Offering
CleanSpark Inc., a leading data center developer, announced its subsidiary's plan to offer up to $2.227 billion in senior secured notes due in 2031 through a private placement under Rule 144A and Regulation S of the Securities Act. The proceeds will be used primarily for completing the Sandersville Facility data center build-out, reimbursing prior equity contributions by CleanSpark to this project, and funding debt service reserves. The notes are guaranteed by CSRE Properties Sandersville LLC and secured by first-priority liens on most assets of the issuer and its subsidiaries. CleanSpark will also provide a completion guarantee for the facility if needed. However, there is no assurance that the offering will proceed as planned due to market conditions or other factors.
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