Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Tue, July 5, 8:07 PM
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Slide #2. Soluna Holdings, Inc. — Preferred Stock Offering
Soluna Holdings, Inc. (NASDAQ:SLNH)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
Soluna Holdings, Inc. ("SHI" or the "Company"), (NASDAQ:SLNH), the parent company of Soluna Computing, Inc. ("SCI"), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it intends to offer shares of its 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, with a $25.00 liquidation preference per share (the "Series A Preferred Stock"), in an underwritten public offering. Concurrently with the public offering and by means of a separate prospectus supplement, the Company intends to offer shares of its Series A Preferred Stock directly to certain institutional lenders in a registered direct offering. All of the shares of Series A Preferred Stock in both offerings are being offered by the Company. The Series A Preferred Stock is traded on the Nasdaq Stock Market LLC under the symbol "SLNHP". -updated 4/27- Soluna Holdings, Inc. ("SHI" or the "Company") (Nasdaq: SLNH), the parent company of Soluna Computing, Inc. ("SCI"), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today the pricing of its underwritten public offering of 525,714 shares of its 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share, with a $25.00 liquidation preference per share (the "Series A Preferred Stock"), at a price to the public at $17.50 per share. In addition, the Company today announced the pricing of its concurrent registered direct offering to certain institutional lenders by means of a separate prospectus supplement, of 1,142,857 shares of Series A Preferred Stock, at an offering price of $17.50 per share, the same price as the public offering price of the shares of Series A Preferred Stock in the underwritten public offering. In connection with the underwritten public offering, SHI has granted the underwriters a 45-day option to purchase up to an additional 78,857 shares of Series A Preferred Stock offered in the public offering at the public offering price of $17.50 per share, less underwriting discounts and commissions,to cover over-allotments, if any. The offerings are expected to close on or about April 29, 2022, subject to satisfaction of customary closing conditions. Neither the closing of the underwritten public offering nor the closing of the concurrent registered direct offering is contingent upon the closing of the other.
Soluna Holdings conducts its businesses through its two wholly-owned subsidiaries Soluna Computing, Inc. (SCI) and MTI Instruments, Inc., (MTI Instruments). SCI is engaged in the mining of cryptocurrency through data centers. MTI Instruments is engaged in the design, manufacture, and sale of vibration measurement and system balancing solutions, precision linear displacement sensors, instruments and system solutions, and wafer inspection tools. Co. has two reportable segments: Cryptocurrency Mining, which Co. operates several cryptocurrencies, including BitCoin, Ethereum, and LiteCoin; and Data Center Hosting, which Co. provides electrical power and network connectivity.
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