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

Rhea-AI Summary

Soluna Holdings, Inc. (NASDAQ: SLNH) announced a monthly cash dividend of $0.1875 per share on its 9.0% Series A Cumulative Perpetual Preferred Stock, payable on June 30, 2022, to shareholders of record by June 19, 2022. This dividend reflects a strong commitment to returning value to shareholders while maintaining a focus on renewable energy through its cryptocurrency mining operations. Soluna’s Series A Preferred Stock trades under the symbol SLNHP, positioned to leverage excess renewable energy for computing resources.

Positive

• Monthly cash dividend of $0.1875 per share, reflecting a 9.0% annual rate.
• Commitment to shareholder value through consistent dividend payments.

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• None.

ALBANY, NY, June 09, 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 June 30, 2022. The dividend will be payable on or about June 30, 2022, to holders of the Series A Preferred Stock of record as of the close of business on June 19, 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 Stockconstitute 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 
christopher@soluna.io

Investor Relations:

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

FAQ

What is the dividend amount for Soluna Holdings' 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 or about June 30, 2022.

What is the annual dividend rate for Soluna Holdings' Preferred Stock?

The annual dividend rate is 9.0% based on a $25.00 liquidation preference.

Who is eligible to receive the June dividend for SLNHP?

Shareholders of record as of June 19, 2022, are eligible for the dividend.