Soluna Holdings Inc (SLNH)

[Amigo Mike]

Soluna Holdings Announces Underwritten Public Offering of Its Series A Preferred Stock
December 20 2021 - 06:00AM

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.

Univest Securities LLC is acting as the sole book-running manager for the offering.

The securities described above are being offered by Soluna pursuant to a shelf registration statement on Form S-3, as amended (No. 333-261427), previously filed with the Securities and Exchange Commission (SEC) on November 30, 2021 and declared effective by the SEC on December 16, 2021.

The securities will be offered by means of a prospectus supplement and accompanying prospectus relating to the offering that form a part of the registration statement. A preliminary prospectus supplement and the accompanying prospectus relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from: Univest Securities LLC, Attention: Prospectus Department, 75 Rockefeller Center, Suite 18C, New York, New York 10019, by email at [e-mail].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of these securities under the securities laws of any such state or jurisdiction.