Greenidge Generation Enters Material Definitive Agreement

TL;DR

Greenidge just signed a big deal for its 2026 notes.

AI Summary

Greenidge Generation Holdings Inc. entered into a material definitive agreement on January 24, 2025, related to its Senior Notes due 2026. The company, incorporated in Delaware, filed this 8-K report on January 28, 2025, detailing this significant financial event.

Why It Matters

This filing indicates a significant financial transaction or agreement for Greenidge Generation Holdings Inc., which could impact its debt structure and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements can introduce new financial obligations or strategic shifts that carry inherent risks.

Key Numbers

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

Key Players & Entities

• Greenidge Generation Holdings Inc. (company) — Registrant
• 2026 (dollar_amount) — Senior Notes Due
• January 24, 2025 (date) — Date of earliest event reported
• January 28, 2025 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $1,369,990 — Extension Payment in an amount equal to $1,369,990 and to pay interest on the outstanding
• $0.0001 — ares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"),

Filing Documents

• gree-20250124.htm (8-K) — 32KB
• atlas-greexequityinterestp.htm (EX-10.1) — 83KB
• 0001628280-25-002834.txt ( ) — 299KB
• gree-20250124.xsd (EX-101.SCH) — 3KB
• gree-20250124_def.xml (EX-101.DEF) — 16KB
• gree-20250124_lab.xml (EX-101.LAB) — 28KB
• gree-20250124_pre.xml (EX-101.PRE) — 17KB
• gree-20250124_htm.xml (XML) — 4KB

01 – Entry into a Material Definitive Agreement

Item 1.01 – Entry into a Material Definitive Agreement. On January 24, 2025, Greenidge Generation Holdings Inc. (the "Company") and certain entities controlled by Atlas Capital Resources GP LLC (collectively, "Atlas") entered into an Equity Interest Payment Agreement (the "Payment Agreement"), pursuant to which Atlas agreed to provide continuing credit support to the Company by maintaining certain letters of credit payable to the New York State Department of Environmental Conservation and Empire Pipeline Incorporated ("Empire") to guarantee the current value of the Company's landfill environmental trust liability and contractual obligations related to the pipeline interconnection project the Company has entered into with Empire, respectively. Absent Atlas' agreement to maintain each letter of credit until its respective renewal date of April 1 and May 3, 2025, Atlas would have the contractual right to require the Company to replace such letters of credit. The Payment Agreement provides that Atlas shall continue to maintain such letters of credit for a specified period in exchange for, among other things, the Company's agreeing to make an L/C Extension Payment in an amount equal to $1,369,990 and to pay interest on the outstanding amount of such letters of credit for each quarterly period during the term of the Payment Agreement, in each case, subject to the limitations set forth in the Payment Agreement, with such payments to be made in the form of shares of Class A common stock, par value $0.0001 per share (the "Class A Common Stock"), of the Company based on the price formulas set forth in the Payment Agreement. The Company is obligated to make the L/C Extension Payment within seven (7) business days of entering into the Payment Agreement. Commencing on the signing of the Payment Agreement, the Company will make the interest payments on a calendar quarter basis in arrears. Pursuant to the terms of the Payment Agreement, upon request of Atlas, the Company als

01 – Financial Statements and Exhibits

Item 9.01 – Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Equity Interest Payment Agreement, dated January 24, 202 5 . 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: January 28, 2025

View Full Filing

View this 8-K filing on SEC EDGAR