Soluna Holdings, Inc. Announces Initial Dividend for Series A Preferred Stock
November 05 2021 - 4:00PM
via NewMediaWire -- Soluna Holdings, Inc. (“SHI” or the
“Company”), (NASDAQ: SLNH), formerly Mechanical Technology, Inc.,
the parent company of EcoChain, Inc. (“EcoChain”), 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 dividend on its shares
of 9.0% Series A Cumulative Perpetual Preferred Stock, par value
$0.001 per share (the “Series A Preferred Stock”). The dividend
will be payable on or about November 30, 2021, to holders of the
Series A Preferred Stock of record as of the close of business on
November 15, 2021, for the month ended November 30, 2021. 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 SHI
SHI is the parent company of MTI Instruments, Inc.
and EcoChain, Inc. Through EcoChain, SHI develops cryptocurrency
mining facilities powered by renewable energy that integrate with
the blockchain network. Through MTI Instruments, SHI is engaged in
the design, manufacture and sale of test and measurement
instruments and systems that use a comprehensive array of
technologies to solve complex, real-world applications in numerous
industries. Those include manufacturing, electronics,
semiconductor, solar, commercial and military aviation, automotive
and data storage. For more information about SHI, please
visit https://www.mechtech.com.
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.646.823.8656Ksmith@pcgadvisory.com
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