Soluna Holdings, Inc. announces monthly dividend for the series
ALBANY, NY, January 7, 2022 (GLOBE NEWSWIRE) – via NewMediaWire – Soluna Holdings, Inc. (âSHIâ or the âCompanyâ), (NASDAQ: SLNH), formerly Mechanical Technology, Inc., the parent company of Soluna Computing, Inc. (âSCIâ), a mining company renewable energy-powered cryptocurrency, and MTI Instruments, Inc. (“MTI Instruments”), an instrumentation and test and measurement systems company, today announced that its board of directors has declared the dividend in regular monthly cash on its 9.0% shares Series A Cumulative Perpetual Preferred Shares, par value $ 0.001 per share (the âSeries A Preferred Sharesâ) for the month ended January 31, 2022. The dividend will be payable on or on or about January 31, 2022, to holders of Series A preferred shares of record as of the close of business on January 17, 2022, as follows: (i) for the month ended January 31, 2022 with respect to the 806,585 shares Series A preferred shares previously issued by the Company at a rate of 0.187 $ 5 per share; (ii) with respect to the 445,714 Series A preferred shares issued on December 28, 2021 (the âDecember 2021 Sharesâ), for the period from December 28, 2021 to January 31, 2022 at a rate of $ 0.20625 per share ; and (iii) with respect to the 66,857 Series A preferred shares issued on January 5, 2022 (the âDecember Option Sharesâ), for the period from January 5, 2022 to January 31, 2022 at a rate of 0.1625 $ per share. The initial dividend of the December 2021 Shares and the December Option Shares accrued from their respective issue dates. Future dividends on the Series A preferred shares will be payable when, as and when declared by the board of directors in arrears on the last day of each month or on the following business day at an annual rate of 9.0%. of the liquidation preference of $ 25.00 per share.
The Series A preferred shares are traded on the Nasdaq Stock Market LLC under the symbol âSLNHPâ.
About Soluna Holdings, Inc.
Soluna Holdings, Inc. (Nasdaq: SLNH) is the leading developer of green data centers that convert excess renewable energy into global computing resources. Soluna builds modular and scalable data centers for intensive and batch computing applications such as cryptocurrency mining, AI and machine learning. Soluna offers a cost effective alternative to battery storage or transmission lines. Soluna’s MTI Instruments division manufactures precision tools and test equipment for electronics, aviation, automotive, power and other industries. Soluna and MTI Instruments use technology and intentional design to solve complex and real challenges. Up to 30% of the power of renewable energy projects can be wasted. Soluna’s data centers allow owners of clean electricity assets to ‘Sell’. All. Megawatt.’
For more information on Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.
The statements contained in this press release regarding the payment of dividends on the Series A Preferred Shares constitute forward-looking statements within the meaning of federal securities laws. Forward-looking statements reflect management’s current expectations as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from future results expressed or implied by such statements. prospective. Actual results could differ materially from those expressed or implied by these forward-looking statements due to various factors, including, but not limited to: (1) the risk factors set forth in the company’s registration statement on Form S-1 (file number 333-257300), as amended; and (2) other risks and uncertainties which may be detailed from time to time in SHI’s reports filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of their publication. Except as required by law, the Company assumes no obligation to update or revise forward-looking statements.
Kirin Smith, President
PCG Consulting, Inc.