Greenidge Generation completes exchange offer for 2026 senior notes

Greenidge Generation Holdings Inc. (NASDAQ: GREE) completed its exchange offer for outstanding 8.50% Senior Notes due 2026, with $1,436,125 in principal amount of old notes exchanged for new 10.00% Senior Notes due 2030.

The exchange offer expired April 8, 2026, according to a company statement. Of the $36,663,875 in outstanding old notes, approximately 3.9% were tendered for exchange. Following settlement, $35,227,750 in principal amount of the 2026 notes remains outstanding.

Under the exchange terms, holders received $25.00 principal amount of new notes and two shares of Class A common stock for each $25.00 of old notes exchanged, plus accrued interest. Settlement is expected April 10, 2026, when Greenidge will issue approximately $1,459,689 in aggregate principal amount of new notes and 114,890 shares of common stock.

The company sought to list the new notes on OTC Markets but the Financial Industry Regulatory Authority denied the symbol request based on trade reporting and market structure considerations. Greenidge continues evaluating alternative trading pathways but cannot guarantee the new notes will be tradable or that an active market will develop.

The old notes trade on Nasdaq Global Select Market under symbol "GREEL." Greenidge describes itself as a vertically integrated power generation company focused on datacenters and infrastructure development.

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