Atlas entities get Greenidge (GREE) stock in $161,820 equity settlement
Rhea-AI Filing Summary
Greenidge Generation Holdings Inc. made an equity-based payment to investment funds affiliated with Atlas under an Equity Interest Payment Agreement. The company paid $161,820 to Atlas in the form of 114,199 shares of Class A Common Stock at $1.42 per share, allocated among Atlas Capital Resources (A9) LP, Atlas Capital Resources (A9-Parallel) LP, and Atlas Capital Resources (P) LP.
Following this transaction, the Atlas entities reported 1,505,351 shares of Class A Common Stock and 2,680,030 shares of Class B Common Stock, which are convertible into an equal number of Class A shares at the holder’s option. Atlas Capital GP LP and Atlas Capital Resources GP LLC act as general partners of the Atlas funds, and Andrew M. Bursky and Timothy J. Fazio may be deemed to control these entities, though all parties disclaim beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Stock, par value $0.0001 per share | 114,199 | $1.42 | $162K |
Footnotes (1)
- In connection with the Equity Interest Payment Agreement (the "Agreement"), dated as of January 24, 2025, by and among Greenidge Generation Holdings Inc. (the "Issuer") and Atlas Capital Resources (A9) LP ("ACR9"), Atlas Capital Resources (A9-Parallel) LP ("ACR Parallel"), and Atlas Capital Resources (P) LP ("ACR P" and, together with ACR9 and ACR Parallel, collectively, "Atlas"), the Issuer made a $161,820 payment to Atlas in the form of shares of Class A Common Stock based on the price formula set forth in the Agreement. Of the 114,199 shares of Class A Common Stock issued to Atlas thereunder, 81,825 shares were issued to ACR9, 29,381 shares were issued to ACR Parallel and 2,993 shares were issued to ACR P. Represents 1,505,351 shares of Class A Common Stock and 2,680,030 shares of Class B Common Stock, which are convertible at any time at the option of the holder into an equal number of shares of Class A Common Stock. Atlas Capital GP LP ("ACR GPLP") is the general partner of ACR9, ACR Parallel, ACR P and GGH Bridge Investment LP ("GGH"). Atlas Capital Resources GP LLC ("ACR GP") is the general partner of ACR GPLP. ACR GP, ACR GPLP, ACR9, ACR Parallel, ACR P, and GGH are collectively referred to as the "Atlas Entities." Andrew M. Bursky and Timothy J. Fazio are each a managing partner of ACR GP and may be deemed to control the Atlas Entities. Each of Messrs. Bursky and Fazio and each of the Atlas Entities disclaims beneficial ownership interest of the Class A Common Stock except, in each case, to the extent he or it has any pecuniary interest therein.