Support.com, Inc. (SPRT) experiences an increase of 4.4% in the aftermarket on 7th September 2021. However, the last trading session closed on $19.3 with a decrease of 12.07%.
What’s happening?
There is no latest news released by SPRT on today’s date. Yet there is some recent news that needs to be covered.
Vote “FOR” the Proposed Transaction with Greenidge Generation Holdings Inc.
On 1st September 2021, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), two of the leading independent proxy advisory firms, have recommended that Support.com shareholders vote “FOR” the proposed transaction with Greenidge Generation Holdings Inc. (“Greenidge”) at Support.com’s upcoming special meeting on September 10, 2021. In agreement with the unanimous advice of the Support.com Board, both ISS and Glass Lewis suggest that shareholders vote “FOR” all proposals to be presented at the special meeting.
SPRT announces second-quarter financial results 2021
SPRT announced second-quarter financial results in 2021 on 13th August 2021. Total revenue for the second quarter of 2021 was $8.5 million, which is $2.5 million less than the $11.0 million loss encountered in the second quarter of 2020.
In the second quarter of 2021, gross profit was $3.0 million and gross profit margin was 35 percent, less than 37 percent in the first quarter of 2021.
Also, the merger-related expenditures were in total $0.7 million in the second quarter of 2021 and $1.5 million in the first quarter of 2021, both of which were included in operating expenses.
Merger Transaction Process
Greenidge Generation Holdings Inc. has provided an update on the merger transaction process (“Greenidge”) on August 12, 2021.
As previously stated, Support.com and Greenidge agreed to an agreement on March 19, 2021, under which Support.com will be acquired by Greenidge in a merger transaction. On September 10, 2021, at 8:00 a.m., Support.com will convene a special meeting of its stockholders.
SPRT announces to expand Tech Support Capabilities
SPRT announced the introduction of HomesourcingSM Cloud, a new platform to enhance its technical support services on 4th August 2021. The HomesourcingSM Cloud platform is a secure, patented cloud-based platform that supports a worldwide workforce. ExpertToolkitSM, SecureHubSM, and ExpertCRMSM provide home-based specialists access to a set of technologies that allow them to handle even the most difficult issues.
These materials are part of Support.com’s white-labeled premium tech support subscription services for major companies, as well as direct to businesses and professional services firms, and consumers.
