Albany, New York, Jan. 07, 2022 (The Globe Newswire) – via NewMediaWire – Soluna Holdings, Inc. (“SHI” or “the Company”), (NASDAQ: SLNH), formerly Mechanical Technology, Inc. , the parent company of Soluna Computing, Inc. (“SCI”), a cryptocurrency mining company backed by MTI Instruments, Inc. (“MTI Instruments”), a testing and measurement instrumentation and systems company, announced that its Board of Directors has declared a regular monthly cash dividend on its stock of 9.0% of its Series A cumulative perpetual preference. The shares, par value $0.001 per share (“Series A Preferred Stock”) for the month ending January 31, 2022. Dividends will be paid on or about January 31, 2022, to holders of Series A Preferred Stock of record as of the close of business on January 17, 2022, as follows: (i) for the month ending January 31, 2022 in connection with the Company’s previously issued 806.585 shares of Class A Preferred Stock at $0.1875 per share; (ii) in respect of 445,714 shares of Series A Preferred Stock issued on December 28, 2021 (“December 2021 Shares”), for the period from December 28, 2021 through January 31, 2022 at the rate of $0.20625 per share; and (iii) in respect of 66,857 shares of Series A Preferred Stock issued on January 5, 2022 (“December Option Shares”), for the period January 5, 2022 through January 31, 2022 at a rate of $0.1625 per share. Preliminary dividends for December 2021 shares and December stock option shares accrued from their issue dates. Future dividends on Series A Preferred Stock will be paid when, as if declared monthly by the Board in arrears on the last day of each month or the next business day at an annual rate of 9.0% of the liquidation preference of $25.00 per participant.
The Series A preferred stock trades on the Nasdaq Limited stock under the symbol “SLNHP”.
About Soluna Holdings, Inc.
Soluna Holdings, Inc. (Nasdaq: SLNH) is the lead developer of green data centers that transform excess renewable energy into global computing resources. Soluna builds modular and scalable data centers for intensive computing and payable applications such as cryptocurrency mining, artificial intelligence, and machine learning. Soluna provides a cost effective alternative to battery storage or transmission lines. Soluna’s MTI Instruments division manufactures precision instruments and test equipment for the electronics, aviation, automotive, power, and other industries. Soluna and MTI Instruments use technology and intentional design to solve complex real-world challenges. Up to 30% of the energy of renewable energy projects can be wasted. Soluna data centers enable owners of clean electricity assets to ‘sell’. all. megawatts.
For more information about Soluna, please visit www.solunacomputing.com Or follow us on LinkedIn at linkin.com/solunaholdings and Twitter Tweet embed
Statements in this press release regarding the payment of dividends on Series A preferred stock constitute forward-looking statements within the meaning of the 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 these forward-looking statements. Actual results may differ materially from those expressed or implied in such forward-looking statements as a result of various factors, including, but not limited to: (i) the risk factors set forth in the company’s registration statement on Form S-1 (file No. 333-257300), as amended; and (ii) other risks and uncertainties that may be detailed from time to time in SHI reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.
Keren Smith, President
PCG Advisory, Inc.