DLA Piper advises initial purchasers, led by Cantor Fitzgerald & Co., in US$650 million convertible notes offering for CleanSpark, Inc.

DLA Piper advised the initial purchasers, led by Cantor Fitzgerald & Co. as lead book-running manager, in a US$650 million offering of convertible notes for CleanSpark, Inc., a market-leading Bitcoin miner.

“This is another great example of DLA’s equity-linked capabilities delivering for the initial purchasers, here with a zero-coupon outcome for the issuer. We leveraged our extensive experience and capabilities to help execute a successful offering,” said Drew Valentine, the DLA Piper partner who co-led the transaction.

“It was a pleasure to serve these top-tier institutions once again. We are very proud of the capabilities that we have developed over the years at DLA, and this transaction showcased a collaborative effort with a great result for our clients,” said Stephen P. Alicanti, the DLA Piper partner who co-led the transaction.

Alongside Valentine (New York / Austin) and Alicanti (New York), the core deal team included associates Bianca LaCaille (Seattle), Jordyn Giannone (New York) and Jenna Fontenot (Miami). Partner Marc Horwitz (Chicago) and associate Payvand Coyle (Los Angeles) advised on equity derivatives matters.

DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.