2022-07-20 | NDAQ:SLNH | Press Unlock

2022-07-20 | NDAQ:SLNH | Press Unlock

ALBANY, NY, July 20, 2022 (GLOBE NEWSWIRE) — by means of NewMediaWire – Soluna Holdings, Inc. (“SHI” or the “Corporate”), (NASDAQ: SLNH), the guardian corporate of Soluna Computing, Inc. (“SCI”), a developer of inexperienced information facilities for cryptocurrency mining and different extensive computing, nowadays introduced two contemporary financing trends that serve to extend capital construction flexibility and fund the Corporate’s near-term enlargement pipeline. The trends, which concerned a number of longstanding traders within the Corporate, are meant to permit the Corporate to proceed to execute on its marketing strategy however the present marketplace volatility together with drawing down an preliminary tranche of the prior to now introduced venture financing from finances controlled by way of Spring Lane Capital for Dorothy 1 within the coming weeks.

Convertible Notice Modification

The Corporate reached an settlement with the Noteholders to amend the phrases at the ultimate steadiness of roughly $13,000,000 of convertible notes issued in October of 2021. The notes will restrike the conversion worth as much as three times at a 20% cut price to the 5-day VWAP. The notes lately have a set conversion worth of $9.18. In partial attention of the modification to the notes, the Noteholders agreed to unencumber positive collateral lined by way of their safety settlement to allow the Corporate to continue ahead with the preliminary section of the Dorothy venture and unencumber the Spring Lane venture financing, which the Corporate intends on finishing within the close to long term.

Collection B Most well-liked Issuance

On 07/19/2022 The Corporate issued $5,000,000 Convertible Most well-liked Collection B Inventory (the “Most well-liked B”) with a three 12 months time period by means of an immediate non-public placement to a present investor. The conversion worth is a 20% top rate to the shut of the Corporate’s not unusual inventory on July 18, or $5.41 according to proportion. The Most well-liked B features a 10% dividend that can be paid in money or inventory every year or at conversion. The holder additionally retired warrants for one million not unusual stocks with an workout worth at $11.50 and gained new warrants for one million not unusual stocks with an workout worth at $10.00.

Commenting at the financing development, CEO of Soluna Holdings Michael Toporek commented, “This can be a important building for our corporate and our stockholders. At a specifically difficult time within the capital markets, the brand new financing preparations supply our corporate with a considerably extra versatile capital construction to proceed to execute on our marketing strategy. In nowadays’s capital markets setting, it is very important have the strengthen and persevered participation of traders that imagine in Soluna’s funding thesis.”

About Soluna Holdings, Inc.

Soluna Holdings, Inc. (Nasdaq: SLNH) is the main developer of inexperienced information facilities that convert extra renewable power into international computing assets. Soluna builds modular, scalable information facilities for computing extensive, batchable programs comparable to cryptocurrency mining, AI and gadget studying. Soluna supplies a cheap choice to battery garage or transmission strains. Soluna makes use of generation and intentional design to resolve complicated, real-world demanding situations. As much as 30% of the facility of renewable power initiatives can move to waste. Soluna’s information facilities permit blank power asset house owners to ‘Promote. Each. Megawatt.’

For more info about Soluna, please talk over with www.solunacomputing.com or practice us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

Ahead Having a look Statements

The statements on this press unencumber with admire to the cost of dividends at the Collection B Most well-liked Inventory represent forward-looking statements inside the that means of the federal securities rules. Ahead-looking statements mirror control’s present expectancies, as of the date of this press unencumber, and are topic to positive dangers and uncertainties that would reason precise effects to vary materially from long term effects expressed or implied by way of such forward-looking statements. Precise effects may just vary materially from the ones expressed or implied by way of such forward-looking statements because of more than a few components, together with, however no longer restricted to: (1) the ones chance components set forth within the Corporate’s Registration Observation on Shape S-1 (Record No. 333-257300), as amended; and (2) different dangers and uncertainties that can be detailed now and again in SHI’s reviews filed with the SEC. Readers are cautioned to not position undue reliance on those forward-looking statements, which discuss best as of the date made. Except for as required by way of regulation, the Corporate assumes no legal responsibility to replace or revise any forward-looking statements.

Touch Data:

Chris Gandolfo

Monetary Reporting Supervisor

Soluna Holdings

[email protected]

+518 218 2565

MZ Touch

Brian M. Prenoveau, CFA

MZ Team – MZ North The united states

[email protected]

+561 489 5315



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