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 company powered by renewable energy, today announced that its Board of Directors will pay 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 ending July 31, 2022. The dividend will be payable on or about July 31, 2022 to holders of the Series A Preferred Shares who at the close of business on July 16, 2022 are registered at a price of $0.1875 per share. Future dividends on the Series A Preferred Shares will be payable when, if and if declared by the Board of Directors monthly in arrears on the last day of each month or the next business day at an annual rate of 9.0% of the $25.00 liquidation preference per part.
The Series A preferred stock trades 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 surplus renewable energy into global computing resources. Soluna builds modular, scalable data centers for compute-intensive, batchable applications such as cryptocurrency mining, AI, and machine learning. Soluna offers 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 be lost. Soluna’s data centers enable clean electricity owners to ‘sell. Each. megawatts.’
The statements in this press release regarding the payment of dividends on the Series A Preferred Shares 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 a variety of factors, including, but not limited to: (1) the 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.
Financial reporting manager
+518 218 2565
Brian M. Prenoveau, CFA
MZ Group – MZ North America
+561 489 5315