DRESDEN, N.Y., Oct. 5, 2021 /PRNewswire/ -- Greenidge
Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge") today
announced that it plans to offer $40
million in aggregate principal amount of senior unsecured
notes due 2026 (the "Notes") in a registered underwritten public
offering (the "Offering"). Greenidge 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. 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.
In 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 within 30 days after the Notes are first
issued.
B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc.,
William Blair & Company, L.L.C.
and Northland Securities, Inc. will act as joint book-running
managers for the Offering. EF Hutton, division of Benchmark
Investments, LLC will act as lead manager for the Offering.
Aegis Capital Corp., Colliers Securities LLC, Maxim Group LLC,
Wedbush Securities Inc. and B.C. Ziegler & Company will act as
co-managers for the Offering.
This 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 registration statement on Form
S-1, which has been filed with the Securities and Exchange
Commission ("SEC") but has not yet become effective. The Notes may
not be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. Copies of the
registration statement may be obtained on the SEC's website
at www.sec.gov, or by contacting B. Riley Securities, Inc. by
phone at (703) 312–9580 or by
emailing prospectuses@brileyfin.com.
About Greenidge Generation Holdings Inc.
Greenidge Generation Holdings Inc. (NASDAQ: GREE) is a
vertically integrated bitcoin mining and power generation company.
Greenidge is committed to 100% carbon-neutral bitcoin mining at all
of its locations by utilizing low-carbon sources of energy and
offsetting its carbon footprint. Greenidge currently operates one
facility in upstate New York and
expects to expand operations to a second location in South
Carolina in the upcoming months, which is expected to source
the majority of its electricity from zero-carbon sources.
Support.com, a Greenidge subsidiary, is a leading provider of
customer and technical support solutions delivered by home-based
employees.
Forward-Looking Statements
This press release includes certain statements that may
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All
statements other than statements of historical fact are
forward-looking statements for purposes of federal and state
securities laws. These forward-looking statements involve
uncertainties that could significantly affect Greenidge's financial
or operating results. These forward-looking statements may be
identified by terms such as "anticipate," "believe," "continue,"
"foresee," "expect," "intend," "plan," "may," "will," "would,"
"could," and "should," and the negative of these terms or other
similar expressions. Forward-looking statements are based on
current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance,
including uncertainties related to market conditions and the
completion of the Offering on the anticipated terms or at all.
Forward-looking statements in this press release include, among
other things, statements regarding the Offering, the use of
proceeds from the Offering, and the business plan, business
strategy and operations of Greenidge in the future. Forward-looking
statements are subject to a number of risks, uncertainties and
assumptions. Matters and factors that could cause actual results to
differ materially from those expressed or implied in such
forward-looking statements include but are not limited to the
matters and factors described in Part II, Item 1A. "Risk Factors"
of Greenidge's Quarterly Reports on Form 10-Q, and its other
filings with the Securities and Exchange Commission. You should not
put undue reliance on forward-looking statements. No assurances can
be given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do occur, the
actual results, performance, or achievements of Greenidge could
differ materially from the results expressed in, or implied by, any
forward-looking statements. All forward-looking statements speak
only as of the date of this press release and Greenidge does not
assume any duty to update or revise any forward-looking statements
included in this press release, whether as a result of new
information, the occurrence of future events, uncertainties or
otherwise, after the date of this press release.
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SOURCE Greenidge Generation Holdings Inc.