Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Sat, April 1, 4:07 PM

This Slide: #23 of 609

Slide #23. Soluna Holdings, Inc. — Preferred Stock Offering

Company:	Soluna Holdings, Inc. (NASDAQ:SLNH)
Date announced:	12/20/2021
Shares Offered:	445,714
Date of Pricing:	12/23/2021
Price Per Share:	$25.00
Preferred Stock Offering Details:	Soluna Holdings, Inc. (NASDAQ:SLNH), a developer of green data centers for cryptocurrency mining and other intensive computing, announced today that it intends to offer shares of its Series A Preferred Stock for sale in an underwritten public offering. In addition, the Company expects to grant the underwriter a 45-day option to purchase up to an additional 15 percent of the shares of Series A Preferred Stock offered in the public offering solely to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for the acquisition, development and growth of data centers, including cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software and real property (i.e., land and buildings) and business, and for working capital and general corporate purposes, which include, but are not limited to, operating expenses. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. -updated 12/23- Soluna Holdings, Inc. ("SHI" or the "Company"), (NASDAQ:SLNH), the parent company of Soluna Computing, Inc. ("SCI"), a cryptocurrency mining business powered by renewable energy, and MTI Instruments, Inc. ("MTI Instruments"), a test and measurement instruments and systems business, today announced the pricing of its underwritten public offering of 445,714 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 of $17.50 per share. The Company expects to receive gross proceeds of $7.8 million, before deducting underwriting discounts and other estimated offering fees and expenses. The offering is expected to close on December 28, 2021, subject to customary closing conditions.The Series A Preferred Stock have been approved for listing on the Nasdaq Stock Market LLC under the symbol "SLNHP". The Company has granted the underwriters a 45-day option to purchase up to an additional 66,857 shares of the Series A Preferred Stock (representing 15% of the shares of the Series A Preferred Stock being sold in the offering) to cover over-allotments, if any. The underwriters may exercise this option at any time and from time to time during the 45-day period from the closing of the offering.

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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SLNH — Key Stats (updated Friday, March 31, 10:19 AM)

Name:
Soluna Holdings Inc
Website:
www.solunacomputing.com
Sector:
Electronic Equipment & Products
Number of ETFs Holding SLNH:
2 (see which ones)
Total Market Value Held by ETFs:
$106,313
Total Market Capitalization:
$5,000,000
% of Market Cap. Held by ETFs:
2.13%