Soluna Holdings, Inc. (NASDAQ: SLNH), a developer specializing in green data centers for intensive computing applications such as Bitcoin mining and Artificial Intelligence (AI), has finalized its previously announced public offering. The offering generated approximately $5 million in gross proceeds before deducting placement agent fees and other offering expenses.
The public offering involved the sale of 9,090,909 shares of common stock (or pre-funded warrants in lieu thereof), accompanied by Series A warrants and Series B warrants. Both Series A and Series B warrants grant the right to purchase 9,090,909 shares of common stock each, at an exercise price of $0.55 per share. These warrants are exercisable immediately upon issuance; Series A warrants expire five years from the initial exercise date, while Series B warrants expire two years from the initial exercise date. The combined public offering price for each share (or pre-funded warrant) and its accompanying warrants was $0.55. H.C. Wainwright & Co. served as the exclusive placement agent for this offering.
Soluna Holdings intends to allocate the net proceeds from the offering towards working capital, project-level equity investments, and general corporate purposes. John Belizaire, CEO of Soluna Holdings, stated that the capital position aims to prepare the company for advancing future projects and exploring new opportunities. He emphasized that the raise is expected to provide the necessary flexibility to execute their roadmap, facilitating key developments from project financing to site construction, as the company focuses on disciplined execution to scale its vision of Renewable Computing and deliver long-term shareholder value.
The securities were offered under a registration statement on Form S-1 (File No. 333-287519), which the Securities and Exchange Commission (SEC) declared effective on July 15, 2025. A final prospectus relating to the offering has been filed with the SEC.
Soluna Holdings operates by designing, developing, and managing digital infrastructure that converts surplus renewable energy into global computing resources. The company’s data centers are strategically co-located with renewable power sources like wind, solar, or hydroelectric plants to support high-performance computing, including Bitcoin Mining and Generative AI, utilizing its proprietary MaestroOS™ software.
