March 22, 2021
Support.com, Inc. Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Support.com, Inc. (“SPRT” or the “Company”) (NASDAQ: SPRT) in connection with the Company’s proposed merger with Greenidge Generation Holdings Inc. (“Greenidge”), a privately held holding company that includes Greenidge Generation LLC, a vertically integrated bitcoin mining and power generation facility. Under the terms of the merger agreement, SPRT shareholders will receive approximately 0.124 shares of Class A common stock of Greenridge for each SPRT share they own. At close of the transaction, SPRT will become a wholly-owned subsidiary of Greenidge, which is expected to be listed on NASDAQ. Following consummation, existing SPRT shareholders will own a meager 8% of the new entity, with Greenridge shareholders retaining a 92% stake in the combined company.
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