Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On December 13, 2022, 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 closing bid price of $1.00 per share for the prior 30 consecutive trading day period, as set forth in Nasdaq Listing Rule 5450(a)(1) (the "Bid Price Requirement").

The Notice provided that, pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has an initial period of 180 calendar days, or until June 12, 2023, to regain compliance with the Bid Price Requirement. During this initial 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 Bid Price Requirement, the closing bid price of Common Stock must meet or exceed $1.00 per share for a minimum of ten consecutive trading days, 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.

If the Company does not regain compliance by June 12, 2023, the Company may be eligible for an additional 180 calendar days to comply with the Bid Price Requirement, subject to Nasdaq approval. To qualify, the Company would be required, among other things, to meet the continued listing requirement for the market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Bid Price Requirement and to provide written notice of its intention to cure the bid price deficiency during the second compliance period by effecting a reverse stock split if necessary. If the Company does not regain compliance within the compliance period, including any extensions that may be granted by Nasdaq, the Common Stock will be subject to delisting.

The Company intends to monitor the closing bid price of the Common Stock and will consider available options, including a reverse stock split, to regain compliance with the Bid Price Requirement. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Requirement or maintain compliance with any of the other Nasdaq continued listing requirements.

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)

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses