Bitcoin Miner Greenidge Generation Issues $50M Bond Sale

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Bitcoin mining agency Greenidge Generation Holdings (NASDAQ: GREE) plans to promote $50 million price of five-year bonds.

  • The Nasdaq-listed agency has entered into an settlement with an underwriter for the sale of $50 million price of 8.5% senior notes due 2026, based on an SEC filing dated Oct. 8.
  • The providing is predicted to shut right this moment.
  • “In addition, the underwriting agreement grants the underwriters a 30-day option to purchase from the company up to an additional $5,200,000 aggregate principal amount of the notes,” the submitting mentioned.
  • Greenidge expects to boost round $48.25 million from the sale, which it’ll use to repay different money owed and fund capital expenditure and future acquisitions.
  • Earlier this month, the mining agency introduced that for the quarter ended Sept. 30, it expects to submit a web lack of $16 million – $19 million, pushed by round $30 million of prices related to its merger with IT help supplier Support.com.

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