Soluna Holdings, Inc. Announces Monthly Dividend for Series A Preferred Stock

Rhea-AI Summary

Soluna Holdings, Inc. (NASDAQ: SLNH) declared a monthly cash dividend of $0.1875 per share for its 9.0% Series A Cumulative Perpetual Preferred Stock. This dividend will be paid to shareholders of record as of July 16, 2022, on or about July 31, 2022. Soluna, a leader in green data centers, converts excess renewable energy into computing power, offering solutions for cryptocurrency mining and other applications. The Series A Preferred Stock trades under SLNHP.

Positive

• Declared a cash dividend of $0.1875 per share, representing a 9.0% yield for Series A Preferred Stock.
• Focus on renewable energy solutions positions the company favorably in the growing green technology market.

Negative

• None.

ALBANY, NY, July 06, 2022 (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 business powered by renewable energy,  today announced that its Board of Directors has declared the regular monthly cash dividend on its shares of 9.0% Series A Cumulative Perpetual Preferred Stock, par value $0.001 per share (the “Series A Preferred Stock”) for the month ended July 31, 2022. The dividend will be payable on or about July 31, 2022, to holders of the Series A Preferred Stock of record as of the close of business on July 16, 2022 at a rate of $0.1875 per share. Future dividends on the Series A Preferred Stock will be payable when, as and if declared by the Board of Directors monthly in arrears on the final day of each month or the next business day at an annual rate of 9.0% of the $25.00 liquidation preference per share.

The Series A Preferred Stock trade on the Nasdaq Stock Market LLC under the symbol “SLNHP”.

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, scalable data centers for computing intensive, batchable applications such as cryptocurrency mining, AI and machine learning. Soluna provides a cost-effective alternative to battery storage or transmission lines.  Soluna uses technology and intentional design to solve complex, real-world challenges. Up to 30% of the power of renewable energy projects can go to waste. Soluna’s data centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’ 

For more information about Soluna, please visit www.solunacomputing.com or follow us on LinkedIn at linkedin.com/solunaholdings and Twitter @SolunaHoldings.

Forward Looking Statements

The statements in this press release with respect to the payment of dividends on the 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 such forward-looking statements. Actual results could differ materially from those expressed or implied by such forward-looking statements as a result of various factors, including, but not limited to: (1) those risk factors set forth in the Company’s Registration Statement on Form S-1 (File No. 333-257300), as amended; and (2) other risks and uncertainties that 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 made. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statements.

Contact Information:

Chris Gandolfo
Financial Reporting Manager
Soluna Holdings
christopher@soluna.io
+518 218 2565

MZ Contact
Brian M. Prenoveau, CFA
MZ Group – MZ North America
SLNH@mzgroup.us
+561 489 5315

FAQ

What is the dividend amount for Soluna Holdings Series A Preferred Stock?

The dividend amount is $0.1875 per share.

When is the dividend payment date for Soluna Holdings?

The dividend will be payable on or about July 31, 2022.

What is the annual dividend yield of Soluna Holdings' Series A Preferred Stock?

The annual dividend yield is 9.0%.

Who are eligible shareholders for the dividend payment?

Shareholders of record as of July 16, 2022, are eligible for the dividend.