Greenidge partners with Infinite Reality, launches GreenidgeAI; equity swap ~$1.5M each

Greenidge Generation Holdings Inc.

4-year MSA with Infinite Reality; Greenidge exclusive GPU/datacenter provider in US/Canada.
Equity exchange: 180,000 GREE shares at $8.33/share for 280,374 iR shares at $2.5B valuation.
GREE issues 1-yr warrant for 180k shares at $7.00; iR issues 1-yr warrant for 235,754 shares at $5.35.
Greenidge launches GreenidgeAI; plans to take external customer orders in 2024, targeting NVIDIA H100/L40 GPUs.
Company reduced over $85M secured debt, improving capital structure ahead of new venture.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Greenidge Generation Holdings Inc. entered into Master Services Agreement with Infinite Reality, Inc. with Infinite Reality, Inc. valued at Pursuant to the MSA, Greenidge will deliver access to GPUs and other data center services for a term (effective 2023-12-11).

Action: entry
Counterparty: Infinite Reality, Inc.
Value: Pursuant to the MSA, Greenidge will deliver access to GPUs and other data center services for a term
Effective: 2023-12-11

Exact text from the filing

On December 11, 2023, Greenidge Generation Holdings Inc. (" Greenidge " or the " Company ") entered into a master services agreement (the " MSA ") with Infinite Reality, Inc. (" Infinite Reality "), a private company engaged in the business of developing immersive experiences for clients in digital content creation, distribution and commercialization, and audience and community engagement.

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419 material agreements filed in the last 30 days. Browse all material agreements →

Greenidge Generation Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-041278

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