DRESDEN, N.Y., Oct. 13, 2021 /PRNewswire/ -- Greenidge
Generation Holdings Inc. (NASDAQ: GREE) ("Greenidge") announced
today that the underwriters for its previously announced public
offering (the "Offering") of senior unsecured notes due 2026 (the
"Notes") will exercise their option to purchase the maximum amount
of additional Notes pursuant to the terms of the Offering. The
underwriters have notified Greenidge that they will exercise an
option to purchase an additional $5.2
million aggregate principal amount of Notes. The total size
of the Offering, including the exercise of this option, will be
$55.2 million and the transaction is
expected to close today.
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 statements on Form
S-1, as amended, which has been filed with the Securities and
Exchange Commission ("SEC") and declared effective on October 8, 2021. Copies of the registration
statement may be obtained on the SEC's website at www.sec.gov.
When available, copies of the preliminary prospectus related to the
Offering may be obtained from the offices of B. Riley Securities,
Inc. by phone at (703) 312–9580 or by
About Greenidge Generation Holdings Inc.
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
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.
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.
SOURCE Greenidge Generation Holdings Inc.