By Wendy Van Sickle
Columbus, Ohio, Dec. 23 – Soluna Holdings, Inc. priced $11.14 million, or 445,714 shares, of 9% series A cumulative preferred stock at $17.50 a share for proceeds of $7.8 million, according to a news release.
The liquidation preference is $25.00 per share.
The offer constitutes a reopening of the company’s perpetual preferred stock, which closed on Aug. 23.
Prior to the reopening, there were 806,585 shares, or $20,164,625 liquidation preference, outstanding.
The additional shares will form a single series and be fully fungible with the original issue.
Dividends are payable monthly.
Call protection extends to Aug. 23, 2026. After that date, the shares may be redeemed at the option of the company at par plus all unpaid dividends in whole or in part, from time to time.
There will be a 45-day greenshoe for 15% of the issue.
The preferred stock is listed on Nasdaq as “SLNHP.”
Univest Securities LLC is the bookrunner.
Soluna conducts business through its two wholly owned subsidiaries, SCI and MTI Instruments. SCI mines cryptocurrency through data centers and can be powered by renewable energy sources. MTI designs, manufactures and sells vibration measurement and system balancing solutions, precision linear displacement sensors, instruments and system solutions, and wafer inspection tools. Soluna is based in Albany, N.Y.
| Issuer: | Soluna Holdings, Inc.
|
| Amount: | $11,142,850
|
| Greenshoe: | $1,671,425, or 66,857 shares
|
| Proceeds | $7.8 million, or 445,714 shares
|
| Issue: | Series A cumulative preferred stock add-on
|
| Bookrunner: | Univest Securities LLC
|
| Dividend: | 9%
|
| Price: | $17.50 per share
|
| Liquidation preference: | $25.00 per share
|
| Call: | After Aug. 23, 2026 at par plus dividends
|
| Announcement date: | Dec. 23
|
| Settlement date: | Dec. 28
|
| Listing: | Nasdaq: SLNHP
|
| Previous issue: | $20,164,625, or 806,585 shares
|
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