Kuznicki Law is investigating the proposed sale of GRIID Infrastructure Inc. (NasdaqGM: GRDI) to CleanSpark Inc. (NasdaqCM: CLSK). Under the terms of the proposed transaction, shareholders of GRIID will receive shares of CleanSpark common stock based upon an exchange ratio equal to the quotient obtained by dividing the aggregate merger consideration by the total number of shares of GRIID common stock issued and outstanding as of the closing date of the proposed transaction. The aggregate merger consideration is equal to the quotient obtained by dividing (x) the sum of (i) $155,000,000 minus (ii) the amount of GRIID’s outstanding liabilities as of the closing date of the merger (net of cash on hand) by (y) $16.587 (which is the volume-weighted average price of CleanSpark’s common stock for the two consecutive trading days prior to the date of the merger agreement). Kuznicki Law is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.
GRIID Infrastructure Inc. (NasdaqGM: GRDI) Loss Submission Form
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