Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

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Equity Bottom-Up

Greenidge Generation Holdings / Equity Bottom-Up

<ul><li>Greenidge Generation Holdings, Inc., a vertically integrated cryptocurrency datacenter and power generation company, recently announced the commencement of two separate concurrent offers to exchange or purchase, at the election of each holder, its outstanding 8.50% senior notes due 2026.</li><li>Holders can opt for the exchange or tender options, with a timing bonus.</li><li>They can exchange their old notes for new notes at a rate of $11.00 principal amount per old note, a 50% premium to the 60-day VWAP as of June 16, 2025.</li></ul>

Greenidge Generation Holdings, Inc., a vertically integrated cryptocurrency datacenter and power generation company, recently announced the commencement of two separate concurrent offers to exchange or purchase, at the election of each holder, its outstanding 8.50% senior notes due 2026.Holders can opt for the exchange or tender options, with a timing bonus.They can exchange their old notes for new notes at a rate of $11.00 principal amount per old note, a 50% premium to the 60-day VWAP as of June 16, 2025.

Greenidge Generation Holdings, Inc: Cash and Exchange Offer for Senior Notes Due 2026