Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are 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). KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgm-grdi/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240926820082/en/