Greenidge Generation Holdings Inc. (Nasdaq: GREE) announced the commencement of two separate concurrent offers to exchange or purchase outstanding 8.50% Senior Notes due 2026.
The Tender/Exchange Offer includes an Exchange Option and a Tender Option with specific terms and premiums.
The maximum aggregate principal amount of Old Notes that may be exchanged and purchased is $44,353,800.
Exchange Option Premium
The Exchange Option offers a premium of approximately 34% to the closing trading price as of August 26, 2025.
Early Tender Date Premium
Holders tendering Old Notes before the Early Tender Date may receive an Early Tender Premium of $9.00 per $25.00 principal amount.
Cash Payment Limit
If the cash required to purchase all Old Notes exceeds $2.0 million or $5.9 million, Greenidge will accept Old Notes on a pro rata basis.
- The Tender/Exchange Offer provides an opportunity for holders to exchange or sell their Old Notes with attractive premiums.
- The Company's strategic move aims to refinance and manage its debt obligations effectively.
- Investors should carefully consider the terms and deadlines of the Tender/Exchange Offer to maximize their returns.
Greenidge Generation's initiative to launch the Tender/Exchange Offer reflects its proactive approach towards optimizing its debt structure and providing value to stakeholders.