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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Fri., Jan. 21, 12:08 AM

Slide #16. Soluna Holdings, Inc. Secondary 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
Secondary 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, via its subsidiary MTI Instruments, Inc., supplies precision linear displacement solutions, vibration measurement and system balancing solutions, and wafer inspection tools, consisting of electronic gauging instruments for position, displacement and vibration application within the industrial manufacturing/production markets, as well as the research design and process development market; and engine vibration analysis system for both military and commercial aircraft. Co. provides precision measurement products in the following categories including: non-contact measurement; turbine engine/rotating machine measurement and balancing; and diagnostic equipment.
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Company Name: 
Soluna Holdings Inc
Electronic Equipment & Products
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