- Soluna Holdings ( NASDAQ: SLNH ) is down 33.3% premarket after the parent company of Soluna Computing has priced its previously announced underwritten public offering of 1.39M shares of its common stock, at a price to the public of $1.44/share.
- Concurrently, it will also issue to Soluna SLC Fund I Projects Holdco LLC, or Spring Lane, an aggregate of 593,065 shares of common stock to Spring Lane upon conversion of the outstanding promissory note with an aggregate principal amount of $850K and accrued and unpaid interest thereon held by Spring Lane at the same price per share as the public offering price per share set forth above.
- Underwriter are granted a 45-day option to purchase up to an additional 208,333 shares of common stock at the public offering price of $1.44/share.
- Proceeds from the offering will be used to enhance its data centers as well as for general corporate purposes like working capital and capital expenditures.
- Offering is expected to close on or about October 26, 2022.
For further details see:
Soluna shares slides on pricing $2M stock offering