Business
Greenidge Generation Announces Upsizing and Pricing of 8.50% Senior Unsecured Notes Due 2026
DRESDEN, N.Y., Oct. 8, 2021 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge") today announced that it has upsized and priced its
About this update from Greenidge Generation Holdings Inc.
[{"type":"text","content":"DRESDEN, N.Y., Oct. 8, 2021 /PRNewswire/ -- Greenidge Generation Holdings Inc. (NASDAQ: GREE) (\"Greenidge\") today announced that it has upsized and priced its previously announced public offering (the \"Offering\") of 8.50% Senior notes due 2026 (the \"Notes\"). The size of the Offering increased from the previously announced $40.0 million aggregate principal amount to $50.0 million aggregate principal amount of Notes. The total net proceeds from the Offering are approximately $48.25 million (after deducting underwriting discounts and commissions, but before other fees and estimated expenses). \nGreenidge intends to use the net proceeds from the Offering for general corporate purposes, including funding capital expenditures, future acquisitions, investments and working capital and repaying indebtedness. Greenidge has granted the underwriters a 30-day option to purchase up to an additional $5.2 million aggregate principal amount of Notes. The Notes will be issued in minimum denominations of $25.00 and integral multiples of $25.00 in excess thereof. Greenidge and the Notes have been rated B by Egan-Jones Ratings Company, an independent rating agency. The Offering is expected to close on October 13, 2021.\nIn connection with the Offering, Greenidge has applied to list the Notes on the Nasdaq Global Select Market (\"Nasdaq\") under the symbol \"GREEL.\" If approved for listing, trading on Nasdaq is expected to commence on October 14, 2021. \nB. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc., William Blair & Company, L.L.C. and Northland Securities, Inc. are acting as joint book-running managers for the Offering. EF Hutton, division of Benchmark Investments, LLC is acting as lead manager for the Offering. Aegis Capital Corp., Alexander Capital LP, Colliers Securities LLC, Maxim Group LLC, Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler & Company are acting as co-managers for the Offering.\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The Notes may only be offered and sold under Greenidge's registr...