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Why CleanSpark Is Down 15% Today

TheMotleyFool

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Why CleanSpark Is Down 15% TodayPhoto, wide shot, wide-angle lens, Telecom equipment supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Michael Light: https://img.theapi.app/temp/ad10ed87-71d0-4096-a50b-ba9470f8264b.png

Shares of software-as-a-service energy management company CleanSpark (NASDAQ: CLSK) dropped almost 20% this morning, before moderating losses to 15%, as of 3:50 p.m. EDT.

The company reported it has priced its previously announced public stock offering at $9 per share, 28% below Tuesday's closing price. Proceeds from the offering, which is expected to close later this week, will be used for working capital requirements, the growth of CleanSpark's sales and marketing team, and product development including software enhancements and improvements, the company said.

Source Fool.com

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