Soluna Holdings files prospectus supplement for up to $87.7 million stock offering

Soluna Holdings, Inc. (NASDAQ:SLNH), which has seen its stock surge over 114% in the past week and currently holds a market capitalization of $72 million, filed a prospectus supplement with the Securities and Exchange Commission on Tuesday for the potential offer and sale of its common stock, with an aggregate offering price of up to $87,650,000. The shares will be offered under an At the Market Offering Agreement with H.C. Wainwright & Co., LLC, originally dated April 29, 2025.

The filing states that the prospectus supplement updates information in the company’s previous prospectus dated April 29, 2025, and its prior supplements, as part of the company’s registration statement on Form S-3 (File No. 333-286638). According to the statement, the supplement must be read in conjunction with the existing prospectus and any future amendments.

Soluna Holdings previously sold 13,680,483 shares of its common stock through the same agreement, generating gross proceeds of approximately $12.3 million.

The company’s common stock and its 9.0% Series A Cumulative Perpetual Preferred Stock (NASDAQ:SLNHP) are listed on The Nasdaq Stock Market LLC.

A legal opinion from Brownstein Hyatt Farber Schreck, LLP regarding the validity of the shares is included as an exhibit to the filing.

This article is based on a press release statement contained in the company’s SEC filing.

In other recent news, Soluna Holdings, Inc. secured a scalable credit facility of up to $100 million from Generate Capital, PBC. This funding will initially draw $12.6 million to refinance existing projects and support construction efforts, with additional funds available for future developments. The company has also commenced civil construction on Project Kati 1 in Texas, marking a significant milestone as Soluna surpasses 1 gigawatt of renewable-powered computing projects. Project Kati 1 will host Bitcoin mining operations for Galaxy Digital and is expected to be energized by December 2025. Additionally, Soluna launched two new Texas-based facilities, Project Fei and Project Gladys, contributing to the 1 gigawatt milestone. Meanwhile, H.C. Wainwright maintained a Neutral rating on Soluna, acknowledging the company’s sequential improvement in the second quarter of 2025 and its ongoing operational expansion. In corporate governance updates, Soluna’s shareholders approved a reverse stock split and elected two directors, David C. Michaels and Matthew Lipman, for three-year terms. These developments reflect Soluna’s ongoing efforts to expand its operational capabilities and financial stability.

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