ADEX SEC filings, in plain English
Everything Adit EdTech Acquisition Corp. has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
The feed
live EDGAR captureNew filings appear here within minutes of hitting EDGAR; summaries follow once the pipeline has read them.
What changed: GRIID Infrastructure Inc., the successor to Adit EdTech Acquisition Corp., filed a merger proxy for a special meeting on October 28, 2024, record date September 20, 2024, covering the June 26, 2024 merger agreement with CleanSpark, Inc. and Tron Merger Sub, Inc. The aggregate merger consideration equals $155,000,000 less GRIID's outstanding liabilities net of cash on hand, plus up to $5 million of severance obligations, divided by $16.587, the two-day volume weighted average price of CleanSpark stock. Why it matters: The consideration is $155 million minus GRIID's debts, so the value reaching shareholders shrinks dollar for dollar with the liabilities the company carries into closing - holders cannot know their proceeds until the balance sheet is struck. Excluding the controlling holder and a named individual from the vote is a majority-of-the-minority protection, unusual and genuinely favourable to public holders. Consideration is CleanSpark stock, so the value also floats with that share price.
sponsor loans outstanding, going-concern doubtnothing moved · 2 with no prior record of ours
- Sponsor loans outstanding
- not previously extracted$15K
- Going-concern doubt
- stated · unchanged
The clause …“as set forth in the CleanSpark Credit Agreement. The Company initially borrowed $ 15,000 upon signing of the CleanSpark Credit Agreement and borrowed the remainder of the Term Loan Amount on July 2, 2024 (Note 18). The maturity”…
The clause …“can profitably mine bitcoin to support its operations. As such, there exists substantial doubt about the Company’s ability to remain a going concern within one year after the date these consolidated financial statements were issued. 8”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
trust account, combination deadline, going-concern doubt +2nothing moved · 5 with no prior record of ours
- Trust account
- $276.0Mnot matched in this filing
- Combination deadline
- 2024-01-14not matched in this filing
- Going-concern doubt
- stated · unchanged
- Mandate language
- the Company intends to focus its search for a business that …not matched in this filing
- Redeemable shares
- 2.00Mnot matched in this filing
The clause …“can profitably mine bitcoin to support its operations. As such, there exists substantial doubt about the Company’s ability to remain a going concern within one year after the date these consolidated financial statements were issued.”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.