CleanSpark Subsidiary Completes $2.276 Billion Senior Secured Notes Offering Due 2031

CleanSpark, Inc.'s wholly-owned indirect subsidiary, CSDC Finance I, LLC, has completed a private offering of $2.276 billion in senior secured notes. The proceeds are intended to finance the remaining costs of its Sandersville data center facility located in Georgia, reimburse the parent company for prior equity contributions, and fund debt service reserves.

Key Details

• Offering Details: The offering consists of $2,276.0 million in aggregate principal amount of 7.875% Senior Secured Notes due October 1, 2031, issued at 98.5% of their principal amount.
• Use of Proceeds: Net proceeds will be used to (1) finance the remaining construction of the Sandersville, GA data center, (2) reimburse CleanSpark for prior equity contributions made to the project, and (3) fund debt service reserves.
• Key Terms: Interest is payable semiannually on April 1 and October 1, beginning April 1, 2027. CleanSpark, Inc. is providing a completion guarantee for the Sandersville facility. The notes are redeemable at the issuer's option on or after October 1, 2028.