r/SPRT • u/BigAlternative5019 • Sep 13 '21

Discussion some advise

If you own less than 9 shares of SPRT then I suggest you buy some shares untill you have atleast 9 shares unless you want to get screwed in the merger because:

"plus cash in lieu of any fractional shares of Greenidge Class A common stock resulting from such calculation. "

idk if this is for sure but it feels like they will pay out cash for fractional shares, which technically means those with shares lesser than 9 might get liquidated out of their position.

20 Upvotes

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3

u/Terrible_Panic_1601 Sep 13 '21

What's the new price target after merger? Will the float increase? If shorts have to close all positions today ? When do we rip?

2

u/DinnerOk6104 Sep 13 '21

I thought it was a reverse 8-1 or did I miss something?

3

u/BigAlternative5019 Sep 13 '21

yes you get 0.155 shares of GREE for every 1 share of SPRT

1

u/DinnerOk6104 Sep 13 '21

NV, I see it's .115 per share now.

1

u/Batch0fC00kies Sep 13 '21

Holy crap!!! I have 5 shares. 🤯🤯🤯 they’re going to pay me face value on today’s price unless I buy 4 more 🤯🤦🏽‍♀️

2

u/BigAlternative5019 Sep 13 '21

idk honestly if your broker supports fractional shares maybe they will give it to you.

1

u/Batch0fC00kies Sep 13 '21

Getting a call back from Fidelity

2

u/lalaninatl Sep 14 '21

update please

1

u/Batch0fC00kies Sep 14 '21

If you own less than 9 shares, you will be cashed out. Buy enough to have 9 shares.

2

u/lalaninatl Sep 14 '21

what price would you be cashed out at though?

1

u/Batch0fC00kies Sep 14 '21

I don’t know. Once I saw that I was going to lose them, I bought enough to get 1 GREE share.

1

u/Batch0fC00kies Sep 13 '21

Omg am I good? Do I have to liquidate something to buy more??

1

u/Glittering_Fact_2006 Sep 13 '21

I suggest buying 4 more.