By Rebecca Melvin
Concord, N.H., Dec. 3 – Greenidge Generation Holdings Inc. priced $17 million more 8½% $25-par five-year notes (Egan-Jones: B), according to an FWP filed with the Securities and Exchange Commission on Friday.
The price to the public was $24.50 per note.
The company had planned to sell $35 million additional notes.
There is a greenshoe for $2.55 million, which would lift the add-on size to $19.55 million if exercised. The notes will be added to the original $55.2 million of the notes that priced in October, lifting total deal size to $72.2 million.
The notes are redeemable starting in 2023 at 102, then in 2024 at 101 and at par starting in 2025.
B. Riley Securities Inc., Ladenburg Thalmann & Co. Inc., William Blair & Co. LLC and EF Hutton, a division of Benchmark Investments LLC, were bookrunning managers of the registered deal.
As previously reported, proceeds will be used for general corporate purposes, including funding future acquisitions and investments, repaying debt, making capital expenditures and funding working capital.
The notes will be listed on the Nasdaq Global Select Market under the symbol “GREEL.”
Greenidge is an owner of a vertically integrated Bitcoin mining and power generation facility in Dresden, N.Y.
| Issuer: | Greenidge Generation Holdings Inc.
|
| Amount: | $17 million
|
| Greenshoe: | $2.55 million
|
| Issue: | Senior notes
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| Maturity: | Oct. 31, 2026
|
| Bookrunners: | B. Riley Securities Inc., Ladenburg Thalmann & Co. Inc., William Blair & Co. LLC and EF Hutton, a division of Benchmark Investments LLC
|
| Co-managers: | Aegis Capital Corp., Colliers Securities LLC, Wedbush Securities Inc., and B.C. Ziegler & Co.
|
| Coupon: | 8½%
|
| Price: | $24.50
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| Call features: | Starting in 2023 at 102, in 2024 at 101 and par starting in 2025
|
| Trade date: | Dec. 3
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| Settlement date: | Dec. 7
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| Rating: | Egan-Jones: B
|
| Distribution: | SEC registered
|
| Listing: | Nasdaq: GREEL
|
| Total deal size: | $72.2 million
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| Cusip: | 39531G209
|
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