Atlas Capital reports 23.1% stake in Greenidge Generation after July 6 share issuance

Atlas Capital GP LP disclosed ownership of 4,185,381 shares of Greenidge Generation (NASDAQ: GREE) Class A communal banal aft conversion, amounting to 23.1% of the class, successful a Schedule 13D/A filed Wednesday with the SEC. The updated involvement reflects a July 6 involvement outgo successful which Greenidge issued 114,199 Class A shares to Atlas, valued astatine $161,820.

The banal issuance was made nether an Equity Interest Payment Agreement dated January 24, 2025. The filing lists six stock-based involvement payments nether that statement from April 2025 done July 2026, totaling 633,561 Class A shares and astir $933,150 successful stated cash-equivalent value.

Atlas has controlled Greenidge since acquiring the institution successful February 2014. The company's 2024 proxy connection said Atlas Holdings controlled 78.3% of voting powerfulness arsenic of April 26, 2024 and held the quality to elite a bulk of directors. That voting-power fig reflects a antithetic ownership framing and day than the existent 13D/A's beneficial ownership calculation.

Atlas present holds much shares but a smaller percent than it reported successful January. A anterior 13D/A filed connected January 12 showed 3,956,317 shares connected an as-converted basis, adjacent to 25.0% of the class, calculated against 13,068,603 Class A shares outstanding arsenic of December 31, 2025. The existent filing adds 229,064 shares to that total, but the ownership percent falls 1.9 points due to the fact that Greenidge's Class A stock number expanded.

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The 23.1% fig uses 15,286,349 Class A shares outstanding arsenic of June 30, positive the 114,199 shares issued connected July 6, positive an presumption that each 2,680,030 Atlas-held Class B shares person into Class A. The holdings are dispersed crossed respective Atlas sub-funds, including Atlas Capital Resources (A9) LP astatine 16.1%, A9-Parallel astatine 5.8%, Atlas Capital Resources (P) LP astatine 0.6%, and GGH Bridge Investment LP astatine 0.7%. Atlas Capital GP LP is deemed the beneficial proprietor of each underlying securities arsenic the wide partner.

Managing partners Andrew M. Bursky and Timothy J. Fazio are besides listed arsenic reporting persons with the aforesaid 23.1% beneficial ownership done their power of Atlas Capital Resources GP LLC.

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Several Greenidge directors and officers support Atlas ties, including Fazio, who has served connected the Greenidge committee since the 2014 acquisition, according to proxy filings.