CleanSpark (CLSK) Upsizes $1.15B Zero‑Coupon Convertible; Shares Dip as Funds Target Power, AI Data Centers & $460M Buyback (Nov. 11, 2025)
What happened today CleanSpark, Inc. (Nasdaq: CLSK) upsized and priced a private offering of $1.15 billion in 0% convertible senior notes due 2032. The terms set an initial conversion rate of 52.1832 shares per $1,000 of notes, equating to an initial conversion price of $19.16—a 27.5% premium to Monday’s close. The company may increase the offering by $150 million if initial purchasers exercise a 13‑day option. The deal is slated to close on Nov. 13, subject to customary conditions. Nasdaq CleanSpark will use about $460 million of the proceeds to repurchase common stock from certain note investors at $15.03 per