Soluna Holdings, Inc. (NASDAQ: SLNH), a company specializing in green data centers for intensive computing applications, has entered into definitive agreements for a public offering expected to generate approximately $32 million in gross proceeds.
The offering involves the purchase and sale of 18,079,144 shares of common stock, or pre-funded warrants in lieu thereof, along with accompanying Series C warrants to purchase up to 18,079,144 shares of common stock. The purchase price is set at $1.77 per share (or pre-funded warrant) with an accompanying Series C warrant. The Series C warrants have an exercise price of $1.65 per share, are immediately exercisable upon issuance, and will expire five years from the date of issuance. H.
C. Wainwright & Co. is serving as the exclusive placement agent for this offering.
Soluna intends to allocate the net proceeds from this offering towards working capital, project-level equity, and general corporate purposes. The offering is anticipated to close around December 5, 2025, subject to customary closing conditions. This sale of securities is being conducted pursuant to the company’s registration statement on Form S-3 (File No. 333-286638), which became effective with the Securities and Exchange Commission (SEC) on April 29, 2025, and a prospectus supplement slated for filing with the SEC.
Soluna Holdings develops and operates digital infrastructure designed to convert surplus renewable energy into global computing resources. Its data centers are strategically co-located with renewable power sources, including wind, solar, and hydroelectric plants, to support high-performance computing applications such as Bitcoin Mining and Generative AI. The company utilizes its proprietary MaestroOS™ software to facilitate grid stabilization while providing cost-effective and sustainable computing solutions.
