Greenidge Generation launches tender offer for 2026 senior notes

Greenidge Generation Holdings Inc. (NASDAQ: GREE) announced the commencement of cash tender and exchange offers for its outstanding 8.50% Senior Notes due 2026, according to a company statement.

The cryptocurrency datacenter and power generation company is offering holders two options for their existing notes, which trade under the symbol "GREEL" on Nasdaq. The exchange option provides $14.85 principal amount of new 10.00% Senior Notes due 2030 for each $25.00 principal amount of old notes. The cash tender option offers $10.75 for each $25.00 principal amount, or $12.50 if tendered by the early deadline of October 21, 2025.

The maximum aggregate principal amount of old notes that may be exchanged and purchased is $38,409,825. Cash purchases are limited to $3.6 million, with notes accepted on a pro rata basis if this limit is exceeded.

As of October 3, 2025, the old notes closed at $10.72 per note on Nasdaq. The offers expire at 5:00 p.m. New York time on November 5, 2025. Tendered notes may be withdrawn until 5:00 p.m. on October 21, 2025.

Accrued interest up to October 31, 2025, will be paid in cash for the tender option and added to the principal amount of new notes for the exchange option. The company estimates accrued interest at approximately $0.54 for each $25.00 principal amount of old notes.

Greenidge is using exemptions under Section 3(a)(9) of the Securities Act of 1933 for the exchange portion of the offer. The company stated it may engage in additional transactions to purchase remaining old notes after the offer concludes.

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