The Merger of Greenidge and Support.com is Almost Complete. What Will Change?
Bitcoin mining and power company Greenidge completes merger with customer solutions and technical support provider Support.com.
According to the SEC’s announcement, the merger will take effect on September 14 after the market closes.
Upon completion of the transaction, Support.com Inc. will become a subsidiary of Greenidge Generation Holdings Inc. Each Share of Support.com Inc. will be automatically converted to its bearer’s right to receive 0.115 Greenidge Class A shares, and will be traded under the ticker symbol GREE.
In March, the SEC announced that one of the terms of the merger is to provide additional funding from Support.com to Greenidge in the amount of $33 million.
Upon completion of the merger, Greenidge CEO Jeff Kirt will take over as CEO of the combined company. Lance Rosenzweig, President and CEO of Support.com, will remain in office and continue Support.com’s business as a 100% subsidiary of Greenidge.