Greenidge raises $6M from Armistice Capital; issues shares, pre-funded warrants, and 5-year warrants

Greenidge Generation Holdings Inc.

Armistice bought 450,350 shares + pre-funded warrant for 810,025 shares at $4.76/share, gross proceeds $6M.
Greenidge also issued a 5-year warrant to Armistice for 1,260,505 shares at $5.25/share, exercisable from Aug 2024.
Preliminary Q4 2023 net income of $1.4M-$2.4M; adjusted EBITDA $1.6M-$2.6M; EPS $0.18-$0.32.
Company reduced total debt by $85.3M (over 54%) in 2023.
Proceeds to fund expansion into low-cost power centers, bitcoin mining, EPCM, and AI/data center infrastructure.

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 Securities Purchase Agreement with Armistice Capital Master Fund Ltd. valued at aggregate gross proceeds $6,000,003.80; net proceeds $5,999,922.78 (effective 2024-02-12).

Action: entry
Agreement: equity purchase
Counterparty: Armistice Capital Master Fund Ltd.
Value: aggregate gross proceeds $6,000,003.80; net proceeds $5,999,922.78
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, Greenidge Generation Holdings Inc. (“ Greenidge ” or the “ Company ”) entered into a securities purchase agreement (the “ SPA ”) with Armistice Capital Master Fund Ltd. (“ Armistice ”), a New York based hedge fund.

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Greenidge Generation Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001628280-24-005237

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