Greenidge Generation Holdings Inc. Files 8-K
Ticker: GREEL · Form: 8-K · Filed: Mar 11, 2024 · CIK: 1844971
| Field | Detail |
|---|---|
| Company | Greenidge Generation Holdings Inc. (GREEL) |
| Form Type | 8-K |
| Filed Date | Mar 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.45 million, $50,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 8-K, material-agreement, financials
TL;DR
Greenidge filed an 8-K on 3/6/24 for a material agreement and financials.
AI Summary
Greenidge Generation Holdings Inc. entered into a Material Definitive Agreement on March 6, 2024. The company also filed financial statements and exhibits as part of this 8-K filing. Specific details of the agreement and financial statements are not provided in this excerpt.
Why It Matters
This filing indicates a significant event or change for Greenidge Generation Holdings Inc., potentially impacting its financial standing or operational agreements.
Risk Assessment
Risk Level: medium — An 8-K filing often signifies material events, which can introduce uncertainty or change the risk profile of a company.
Key Players & Entities
- Greenidge Generation Holdings Inc. (company) — Registrant
- March 6, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-40808 (identifier) — SEC File Number
- 86-1746728 (identifier) — IRS Employer Identification Number
- 135 Rennell Drive, 3rd Floor Fairfield, CT 06890 (address) — Principal executive offices
- ( 203 ) 718-5960 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the Material Definitive Agreement entered into by Greenidge Generation Holdings Inc. on March 6, 2024?
The provided excerpt does not specify the details of the Material Definitive Agreement.
What specific financial statements and exhibits were filed with this 8-K?
The excerpt states that financial statements and exhibits were filed, but does not list their specific contents.
What is Greenidge Generation Holdings Inc.'s principal executive office address?
The principal executive office is located at 135 Rennell Drive, 3rd Floor, Fairfield, CT 06890.
What is the SEC File Number for Greenidge Generation Holdings Inc.?
The SEC File Number is 001-40808.
In which state was Greenidge Generation Holdings Inc. incorporated?
Greenidge Generation Holdings Inc. was incorporated in Delaware.
Filing Stats: 658 words · 3 min read · ~2 pages · Grade level 12 · Accepted 2024-03-11 17:18:34
Key Financial Figures
- $1.45 million — The purchase price for the Property is $1.45 million (the " Purchase Price "), which the Com
- $50,000 — Motus Agreement, Greenidge will deposit $50,000 in escrow, with such amount to be appli
Filing Documents
- gree-20240306.htm (8-K) — 32KB
- ex991pressrelease3-11x2024.htm (EX-99.1) — 12KB
- image.jpg (GRAPHIC) — 26KB
- 0001844971-24-000010.txt ( ) — 252KB
- gree-20240306.xsd (EX-101.SCH) — 3KB
- gree-20240306_def.xml (EX-101.DEF) — 16KB
- gree-20240306_lab.xml (EX-101.LAB) — 28KB
- gree-20240306_pre.xml (EX-101.PRE) — 17KB
- gree-20240306_htm.xml (XML) — 4KB
01 – Entry into a Material Definitive Agreement
Item 1.01 – Entry into a Material Definitive Agreement On March 6, 2024, a subsidiary of Greenidge Generation Holdings Inc. (" Greenidge " or the " Company ") entered into a Commercial Purchase and Sale Agreement (the " Motus Agreement ") with a subsidiary of Motus Pivot Inc., a Delaware corporation (" Motus "), pursuant to which Greenidge has agreed to purchase from Motus a parcel of land containing approximately 12 acres located in Columbus, Mississippi, including over 73,000 square feet of industrial warehouse space (the " Property "). The Property provides the Company with 32.5 MW in additional mining capacity and Greenidge intends to deploy 7 MW of miners on the Property in the second quarter of 2024. The purchase price for the Property is $1.45 million (the " Purchase Price "), which the Company expects to finance with cash on hand. Motus is a portfolio company of private investment funds managed by Atlas Holdings LLC (" Atlas "). Greenidge's controlling shareholder consists of certain funds associated with Atlas. Under the terms of the Motus Agreement, Greenidge will deposit $50,000 in escrow, with such amount to be applied at closing to the Purchase Price. The Motus Agreement contains customary representations, warranties and covenants of the parties and closing conditions as well as other customary provisions. The transaction is expected to close in April 2024. The foregoing description of the Motus Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Motus Agreement, which will be filed as an exhibit to Greenidge's periodic report for the corresponding period.
01 - Financial Statements and Exhibits
Item 9.01 - Financial Statements and Exhibits (d) The following exhibits are being filed herewith: Exhibit No. Description 99.1 Press Release dated March 11 , 202 4 issued by Greenidge Generation Holdings Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 11th day of March, 2024. Greenidge Generation Holdings Inc. By: /s/ Jordan Kovler Name: Jordan Kovler Title: Chief Executive Officer