Greenidge Generation Holdings Inc. Files 8-K

TL;DR

Greenidge filed an 8-K on Oct 24th covering equity sales & other events. Check it for financials.

AI Summary

Greenidge Generation Holdings Inc. filed an 8-K on October 28, 2024, reporting on unregistered sales of equity securities and other events as of October 24, 2024. The filing also includes financial statements and exhibits. The company is incorporated in Delaware and its principal executive offices are located in Dresden, New York.

Why It Matters

This 8-K filing provides updates on the company's financial activities and corporate events, which are crucial for investors to understand the current status and potential future direction of Greenidge Generation Holdings Inc.

Risk Assessment

Risk Level: medium — 8-K filings often contain material information about a company's financial health and strategic moves, which can significantly impact its stock price and investor confidence.

Key Numbers

• 001-40808 — SEC File Number (Identifies the company's filing with the SEC.)
• 86-1746728 — IRS Employer Identification Number (Company's tax identification number.)

Key Players & Entities

• Greenidge Generation Holdings Inc. (company) — Registrant
• Delaware (jurisdiction) — State of incorporation
• Dresden, New York (location) — Principal executive offices
• October 24, 2024 (date) — Date of earliest event reported
• October 28, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.0001 — mpany's Class A Common Stock, par value $0.0001 per share (the "Common Stock"), in exch
• $138,550.00 — e (the "Common Stock"), in exchange for $138,550.00 aggregate principal amount of its 8.50%
• $72,200,000 — bligations in whole, or in part, of the $72,200,000 in aggregate principal amount of its 8.
• $15,000,000 — s minimum MVPHS requirement of at least $15,000,000 for continued listing on The Nasdaq Glo

Filing Documents

• gree-20241024.htm (8-K) — 32KB
• greeexchangeagreementsecfi.htm (EX-10.1) — 79KB
• 0001628280-24-043899.txt ( ) — 295KB
• gree-20241024.xsd (EX-101.SCH) — 3KB
• gree-20241024_def.xml (EX-101.DEF) — 16KB
• gree-20241024_lab.xml (EX-101.LAB) — 28KB
• gree-20241024_pre.xml (EX-101.PRE) — 17KB
• gree-20241024_htm.xml (XML) — 4KB

02 – Unregistered Sales of Equity Securities

Item 3.02 – Unregistered Sales of Equity Securities. On October 24, 2024, Greenidge Generation Holdings Inc. (the "Company") entered into a privately negotiated exchange agreement (the "Exchange Agreement"), under which it issued an aggregate of 25,868 shares of the Company's Class A Common Stock, par value $0.0001 per share (the "Common Stock"), in exchange for $138,550.00 aggregate principal amount of its 8.50% Senior Notes due October 2026. Pursuant to Section 3(a)(9) of the Securities Act of 1933, as amended (the "Securities Act"), the Common Stock issued in such transaction were issued to existing security holders of the Company exclusively in exchange for such holders' securities and no commission or other remuneration was paid or given for soliciting the exchange. Other exemptions may apply. Although the Company currently has no existing agreement to consummate any additional exchange or other similar transactions at this time, the Company continues to seek opportunities to satisfy its obligations in whole, or in part, of the $72,200,000 in aggregate principal amount of its 8.50% Senior Notes due October 2026 in non-cash consideration and, consequently, the Company may consummate one or more additional similar transactions, from time to time, as opportunities emerge but is under no obligation to do so. The above description of the Exchange Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Exchange Agreement in substantially the form filed as Exhibit 10.1 hereto, which is incorporated herein by reference.

01 – Other Events

Item 8.01 – Other Events. As previously disclosed, on October 14, 2024, Greenidge Generation Holdings Inc. (the "Company") received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that, based on the staff's review of the market value of publicly held shares (the "MVPHS") of the Company's Class A common stock, par value $0.0001 per share (the "Common Stock"), for 30 consecutive business days, the Company no longer complied with Nasdaq's minimum MVPHS requirement of at least $15,000,000 for continued listing on The Nasdaq Global Select Market. On October 25, 2024, the Company received a written notice from Nasdaq notifying the Company that the staff has determined that for the 10 consecutive business days preceding October 25, 2024, the Company's MVPHS has been $15,000,000 or greater. Accordingly, the Company has regained compliance with Nasdaq's minimum MVPHS requirement for continued listing on The Nasdaq Global Select Market, and the staff has indicated that this matter is now closed.

01 – Financial Statements and Exhibits

Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Exchange Agreement, dated October 24, 2024 . 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Greenidge Generation Holdings Inc. By: /s/ Jordan Kovler Name: Jordan Kovler Title: Chief Executive Officer Date: October 28, 2024

View Full Filing

View this 8-K filing on SEC EDGAR