In Brief:
- Bitcoin mining firm Greenidge has completed its merger with Support.com.
- Greenidge is going public on September 15.
- The company’s shares will be traded under ‘GREE’ ticker.
Greenidge Generation Holdings Inc. (‘Greenidge’), a vertically integrated bitcoin mining and power generation company, announced their pending merger transaction with Support.com, Inc.(NASDAQ: SPRT) was completed on Sept 14.
According to SEC filing Greenidge is all set to become the latest publicly listed mining firm. It will be listed on the Nasdaq stock exchange on Sept. 15. The shares of Greenidge Class A common stock will be ready to trade on Nasdaq under the ticker symbol ‘GREE’.
Support.com will continue to operate its existing lines of business as a wholly owned subsidiary of Greenidge. The combined company will be led by Greenidge Chief Executive officer Jeff kirt. Support.com is a leader in customer and technical support solutions delivered by home-based employees.
In addition, the final exchange ratio for the merger is already determined with the deal. Support.com shareholders will receive 0.115 shares of Greenidge Class A common stock for each share of Support.com Common Stock held prior to closing. Support.com will also provide Greenidge with $33 million in additional cash.
The firm pledged to go carbon neutral through carbon offsetting iIn July. The firm utilizes low-carbon sources of energy at its facility. It also announced plans to expand its mining facility in South Carolina.
