CLSK - CleanSpark Announces GRIID Infrastructure Takeover Deal: Digging Into The Details | Benzinga
CleanSpark Inc (NASDAQ:CLSK) shares are trading higher Thursday after the company announced plans to acquire GRIID Infrastructure Inc (NASDAQ:GRDI) in an all-stock transaction.
What Happened: CleanSpark has entered into a definitive merger agreement to acquire all the issued and outstanding common stock of GRIID Infrastructure. GRIID operates Bitcoin (CRYPTO: BTC) mining data centers in various cities and towns throughout Tennessee. The total enterprise value of the transaction is $155 million.
GRIID shareholders will receive shares of CleanSpark based upon an exchange ratio equal to the quotient obtained by dividing $155 million by the total number of shares of GRIID common stock issued and outstanding as of the ...