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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 7:38 AM
Slide #98. Soluna Holdings, Inc. — Preferred Stock Offering
| Company: |
Soluna Holdings, Inc. (NASDAQ:SLNH) |
| Date announced: |
4/21/2022 |
| Shares Offered: |
525,714 |
| Date of Pricing: |
4/27/2022 |
| Price Per Share: |
$25.00 |
| 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 business through its wholly-owned subsidiary, Soluna Computing, Inc. Co. operates in two business segments: Cryptocurrency Mining, which engages in cryptocurrency mining by which transactions between cryptocurrency users are verified and added to the blockchain public ledger and also introduces new cryptocurrency coins into the existing circulating supply, facilitating a peer-to-peer decentralized network without the need for a third-party central authority; and Data Center Hosting, which provides electrical power and network connectivity to cryptocurrency mining customers, in exchange for a fixed rate per megawatt-hour, and a share of mining profits. Preferred: SLNHP
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