UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 15, 2023, Greenidge Generation Holdings Inc. (the “Company”) received a written notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) stating that the Company failed to maintain a minimum Market Value of Publicly Held Shares of $15 million for the prior 30 consecutive trading day period, as set forth in Nasdaq Listing Rule 5450(b)(3)(C) (the “MVPHS Requirement”).
Pursuant to Nasdaq Listing Rule 5810(c)(3)(D), the Company has a compliance period of 180 calendar days, or until December 12, 2023, to regain compliance with the MVPHS Requirement. During this compliance period, the Company’s Class A common stock, par value $0.0001 (the “Common Stock”) will continue to be traded on the Nasdaq Global Select Market. To regain compliance with the MVPHS Requirement, the Company's MVPHS must close at or above $15 million for a minimum of ten consecutive business days at any time during the compliance period, unless Nasdaq exercises its discretion to extend the ten-day period pursuant to Nasdaq Rule 5810(c)(3)(H).
The Company’s receipt of the Notice does not affect the Company’s business operations at this time or its reporting obligations with the Securities and Exchange Commission.
The Company is actively exploring various alternatives to enable it to regain compliance with the MVPHS Requirement. If the Company does not regain compliance within the compliance period, of which there can be no assurances, including during any extensions that may be granted by Nasdaq based on any appeals by the Company, the Common Stock will be subject to delisting.
Item 9.01 - Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
| Exhibit No. | Description | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 16th day of June, 2023.
| Greenidge Generation Holdings Inc. | |||||
By: | /s/ Robert Loughran | ||||
Name: | Robert Loughran | ||||
Title: | Chief Financial Officer | ||||