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

Rhea-AI Summary

Soluna Holdings, Inc. (NASDAQ: SLNH) announced a monthly cash dividend for its 9.0% Series A Cumulative Perpetual Preferred Stock. Shareholders will receive $0.1875 per share, payable on March 31, 2022, to those on record as of March 17, 2022. The Series A Preferred Stock trades under the symbol 'SLNHP'. This dividend reflects the company’s commitment to returning value to shareholders while operating sustainable renewable energy-powered data centers.

Positive

• Regular monthly dividend of $0.1875 per share enhances shareholder value.
• Sustainable business model focused on renewable energy and cryptocurrency mining.

Negative

• Risks associated with forward-looking statements regarding future dividends.

ALBANY, NY, March 07, 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, and MTI Instruments, Inc. (“MTI Instruments”), a test and measurement instruments and systems business, 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 March 31, 2022. The dividend will be payable on or about March 31, 2022, to holders of the Series A Preferred Stock of record as of the close of business on March 17, 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’s MTI Instruments division manufactures precision tools and testing equipment for electronics, aviation, automotive, power and other industries. Both Soluna and MTI Instruments use 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:

Lisa Brennan 
lbrennan@mtiinstruments.com

Investor Relations:

Kirin Smith, President 
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com

FAQ

What is the dividend amount for SLNH's Series A Preferred Stock?

The dividend amount is $0.1875 per share.

When will the dividend for SLNHP be paid?

The dividend will be payable on March 31, 2022.

What is the yield on Soluna Holdings' preferred stock?

The yield is 9.0% based on the Series A Cumulative Perpetual Preferred Stock.

Who is eligible for the dividend payment on SLNHP?

Holders of the Series A Preferred Stock of record as of the close of business on March 17, 2022, are eligible.