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Greenidge Generation Announces Amendments to and Preliminary Results of Exchange Offer
PITTSFORD, N.Y.--(BUSINESS WIRE)-- Greenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated power generation
About this update from Greenidge Generation Holdings Inc.
[{"type":"text","content":" PITTSFORD, N.Y.--(BUSINESS WIRE)--\nGreenidge Generation Holdings Inc. (Nasdaq: GREE) (“Greenidge” or the “Company”), a vertically integrated power generation company focused on datacenters and infrastructure development, today announced that it has amended the terms of its previously announced offer to exchange (the “Exchange Offer”) its outstanding 8.50% Senior Notes due 2026 (the “Old Notes”), which trade on the Nasdaq Global Select Market under the symbol “GREEL”.\n\n\nThe Company is hereby amending the Offer to Exchange, dated March 11, 2026 (the “Offer to Exchange”) and related documents, to (i) revise the consideration so that all holders that validly tender their Old Notes for exchange in the Exchange Offer will receive $25.00 principal amount of New Notes and two (2) shares of the Company’s Class A Common Stock, $0.0001 par value per share for each $25.00 principal amount of Old Notes exchanged, (ii) remove the concepts of Early Tender Premium and Early Tender Date, and (iii) waive the closing condition that at least $11.0 million in principal amount of Old Notes be validly tendered for exchange in the Exchange Offer.\n\n\nHolders of Old Notes that validly tendered and did not withdraw their Old Notes as of 5:00 p.m., New York City time, on March 25, 2026 (the “Withdrawal Date”) do not need to take any further action to receive the consideration in the Exchange Offer.\n\n\nAccording to the information provided to Greenidge by Computershare Trust Company, N.A., the exchange agent in connection with the Exchange Offer, the following aggregate principal amount of the Old Notes set forth in the table below was validly tendered and not properly withdrawn as of the Withdrawal Date:\n\n\n\n\nTitle of Security\n\n\n\n\n\n\nCUSIP Number\n\n\n\n\n\n\nPrincipal Amount Outstanding\n\n\n\n\n\n\nAggregate Principal Amount Validly Tendered and Not Properly Withdrawn as of the Withdrawal Date\n\n\n\n\n\n\n\n\n8.50% Senior Notes Due 2026\n\n\n\n\n\n\n39531G209\n\n\n\n\n\n\n$36,663,875\n\n\n\n\n\n\n$1,334,025\n\n\n\n\n\n\n\nInformation Relating to the Exchange Offer\n\n\nThe complete terms and conditions of the Exchange Offer, as amended by this press release, are set forth in the Offer to Exchange, which sets forth a detailed description of the Exchange Offer. Greenidge refers investors to the Offer to Exchange, as amended by this pres...