Bitcoin mining agency Greenidge Technology Holdings (NASDAQ: GREE) plans to promote $50 million value of five-year bonds.
- The Nasdaq-listed agency has entered into an settlement with an underwriter for the sale of $50 million value of 8.5% senior notes due 2026, based on an SEC submitting dated Oct. 8.
- The providing is anticipated to shut in the present day.
- “As well as, the underwriting settlement grants the underwriters a 30-day choice to buy from the corporate as much as a further $5,200,000 mixture principal quantity of the notes,” the submitting stated.
- Greenidge expects to boost round $48.25 million from the sale, which it can 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 put up a internet lack of $16 million – $19 million, pushed by round $30 million of expenses related to its merger with IT help supplier Assist.com.