Lowenstein Sandler represented Soluna Holdings, Inc., a developer of green data centers for intensive computing applications including Bitcoin mining and Artificial Intelligence (AI), in its pricing of a public offering, the gross proceeds of which, before deducting the placement agent’s fees and other offering expenses payable by the Company, are expected to be approximately $5 million.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Soluna intends to use the net proceeds from the offering for working capital, project-level equity, and general corporate purposes.
The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna’s pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications. Soluna’s proprietary software helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns.
The Lowenstein team included Steven E. Siesser, Daniel L. Forman, Marianna Shelenkova, Nathaniel A. Perle, Ian Ludd, and Liam Rogan.