CleanSpark Amends Preferred Stock Rights, Approves $34.3M Special Dividend to Insiders
CLSK sits 50% above its 52-week low of $6.452.
Summary
CleanSpark amended its Series A Preferred Stock terms, eliminating a recurring dividend in favor of a one-time $34.3 million special dividend to insider holders, and modified voting and conversion rights.
Key Events · Financing and Capital Events · CLSK
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Preferred Stock Rights Amended
The company filed a First Amended and Restated Certificate of Designation for its Series A Preferred Stock, effective March 20, 2026, modifying key terms.
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Recurring Dividend Eliminated
The quarterly dividend, previously calculated as 2% of the company's earnings before interest, taxes, and amortization, has been eliminated.
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Special Dividend Approved for Insiders
A one-time special dividend of $17.14 per share of Series A Preferred, totaling approximately $34.3 million, was approved for payment to holders, including the CEO, a Director, and the former CEO.
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Voting Structure Modified
Voting rights for Series A Preferred were revised; if a majority is held by directors/officers or controlled entities, all Series A Preferred votes as directed by that majority. Otherwise, it aligns with Board recommendations or common stock.
Analysis · CLSK · Crypto Assets
CleanSpark has significantly altered the terms of its Series A Preferred Stock, which is primarily held by current and former executives. The elimination of a recurring dividend tied to company earnings removes a potential future obligation, but this is offset by the approval of a substantial one-time special dividend of approximately $34.3 million to these preferred shareholders. The modifications to voting rights, particularly the provision for all Series A Preferred shares to vote as directed by a majority of Series A holders if held by insiders, could solidify insider control. Additionally, the automatic conversion of preferred shares into common stock upon a change of control event introduces potential dilution for common shareholders in such a scenario. Given the company's recent net loss, this significant cash outflow to insiders and the governance changes are material for investors.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 35.9% of the 1728 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.06%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CLSK was trading at $9.66 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $2.5B. The 52-week trading range was $6.45 to $23.61. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.