"CleanSpark (CLSK) plans to acquire GRIID Infrastructure (GRDI) for $155 million in shares. H.C. Wainright analysts estimate that CleanSpark will pay approximately $86 million, which corresponds to GRDI's market capitalization as of June 27. 📉 This will require the issuance of 5.2 million shares of CleanSpark, or approximately 2.5% of the total shares. CleanSpark assumes all debts of GRDI and provides it with working capital of $5 million and a bridge loan of $50.9 million. The transaction is expected in the 3rd quarter of 2024."