An announcement from Griid Infrastructure, Inc. (GRDI) is now available.
GRIID Infrastructure Inc. and CleanSpark, Inc. have announced a merger agreement whereby GRIID will merge with a subsidiary of CleanSpark, with GRIID as the surviving entity. Shareholders of GRIID will receive CleanSpark stock based on an agreed exchange ratio, with additional provisions in place for GRIID stock options and warrants. The merger is subject to customary closing conditions and shareholder approval. Additionally, GRIID has entered into a hosting agreement with CleanSpark to power CleanSpark’s cryptocurrency mining equipment and has terminated a prior credit agreement, repaying its outstanding obligations. Concurrently, new credit arrangements have been put in place with CleanSpark to support GRIID’s financial needs.
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