Soluna Holdings, Inc. announced the closing of a registered direct offering priced at-the-market under Nasdaq rules.
The offering involved the purchase and sale of 18,079,144 shares of common stock and accompanying Series C warrants.
Gross proceeds from the offering were approximately $32 million before deducting expenses.
Offering Details
18,079,144 shares of common stock were offered at $1.77 per share, with accompanying Series C warrants.
Use of Proceeds
The net proceeds will be used for working capital, project-level equity, and general corporate purposes.
Placement Agent
H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
- Soluna aims to make renewable energy a global superpower by using computing as a catalyst.
- The company's data centers are designed to transform surplus renewable energy into computing resources.
- Soluna's innovative approach supports high-performance computing applications like Bitcoin Mining and Generative AI.
Soluna's successful offering marks a step forward in their mission towards renewable energy and sustainable computing solutions.