Vulcan Infrastructure & Power Inc. (GREE) Form 8-K — Jul 20, 2026
Vulcan Infrastructure and Power Inc., formerly Greenidge Generation Holdings Inc., entered into subscription agreements for a $39.32 million private investment in public equity (PIPE) financing. The transaction involves the sale of approximately 17.1 million shares of Class A common stock at $1.71 per share, a $10 million senior secured convertible note with a 10.0% PIK interest rate, and warrants. The company plans to use the net proceeds to redeem approximately $33 million of its outstanding 8.50% senior notes due October 2026, thereby managing its upcoming debt maturity.
Key figures
- Debt Amount
- 10000000
- Offering Price
- 1.71
- Note type
- PIK
- Warrant shares
- 1754386
- Note interest rate
- 10.0%
- Warrant exercise price
- 1.71
- Redemption amount target
- 33000000
- Expense reimbursement cap
- 350000
AI analysis
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