Greenidge Generation Holdings Inc.
10/28/2024 | Press release | Distributed by Public on 10/28/2024 10:46
Private Placement Form 8 K
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 25,868shares of the Company's Class A Common Stock, par value $0.0001 per share (the "Common Stock"), in exchange for $138,550.00aggregate 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.