Soluna Holdings, Inc Announces Registered Direct Offering - Seite 2

The Company intends to use the net proceeds from this offering for the acquisition, development and growth of data centers, including cryptocurrency mining processors, other computer processing equipment, data storage, electrical infrastructure, software and real property (i.e. land and buildings) and business, including but not limited to the Project Dorothy facility, and for working capital and general corporate purposes.

In connection with this offering, the Company has agreed to reduce the conversion price of the outstanding convertible notes and the exercise price of certain outstanding warrants held by the holders of the convertible notes to $0.76 per share, subject to the Company obtaining appropriate stockholder approval as required by the Nasdaq Stock Market, as applicable.

Univest Securities, LLC is acting as the exclusive placement agent for the proposed registered direct offering.

The securities are being offered by the Company pursuant to a "shelf" registration statement on Form S-3 (File No. 333-261427) previously filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on December 16, 2021. The offering of the securities is made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the securities being offered will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov, and may also be obtained from Univest Securities, LLC, 75 Rockefeller Plaza, 18th Floor, New York, NY 10019, by phone [phone] or e-mail at [e-mail].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About Soluna Holdings, Inc (SLNH)

Soluna Holdings, Inc. 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 Bitcoin 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.’