secwatch.observer — SEC 8-K summary
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Issuer:     Greenidge Generation Holdings Inc. (GREE)
CIK:        0001844971
Form:       8-K
Filed at:   2025-01-28T23:59:59+00:00
Accession:  0001628280-25-002834
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Greenidge pays Atlas $1.37M in shares for letter-of-credit support; 8.5% quarterly interest
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- Atlas maintains $8.6M in LCs for Greenidge's environmental trust and pipeline obligations until April/May 2025.
- Greenidge issues 1.37M worth of Class A common stock as L/C Extension Payment within 7 business days.
- Quarterly interest at 8.5% on $8.6M aggregate principal, also paid in shares, plus reimbursement of bank fees.
- Share issuances capped at 19.99% of outstanding common stock; any excess payable in cash.
- Atlas gets demand and piggyback registration rights for shares issued.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1844971/000162828025002834/0001628280-25-002834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1844971/000162828025002834/gree-20250124.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-002834

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