{"id":789930,"date":"2023-10-12T10:04:28","date_gmt":"2023-10-12T14:04:28","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-announces-1-for-25-reverse-stock-split\/"},"modified":"2023-10-12T10:04:28","modified_gmt":"2023-10-12T14:04:28","slug":"soluna-announces-1-for-25-reverse-stock-split","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-announces-1-for-25-reverse-stock-split\/","title":{"rendered":"Soluna Announces 1-for-25 Reverse Stock Split"},"content":{"rendered":"

<\/p>\n

Soluna Announces 1-for-25 Reverse Stock Split<\/b><\/p>\n

ALBANY, N.Y.–(BUSINESS WIRE<\/a>)–
\nSoluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), announced that it will execute a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25. The reverse stock split was approved by the Board of Directors and by shareholders at the annual meeting of the stockholders on June 29, 2023. The reverse stock split will become effective at 5:00 p.m. Eastern Time, on October 13, 2023. The Company’s common stock will begin trading on a post-split basis at the market open on October 16, 2023, under the Company’s existing trading symbol “SLNH”.<\/p>\n

\nAt the effective time, every 25 issued and outstanding shares of the Company\u2019s common stock will be converted automatically into one share of the Company\u2019s common stock without any change in the par value per share. Once effective, the reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 37.3 million to approximately 1.5 million.<\/p>\n

\nThe reverse stock split is part of the Company\u2019s plan to regain compliance with the $1.00 per share minimum closing price required to maintain continued listing on NASDAQ.<\/p>\n

Safe Harbor Statement<\/b><\/p>\n

\nThis announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Soluna Holdings, Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna\u2019s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and Soluna Holdings, Inc. undertakes no duty to update such information, except as required under applicable law.<\/p>\n

About Soluna Holdings, Inc (SLNH)<\/b><\/p>\n

\nSoluna 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\u2019s data centers enable clean electricity asset owners to \u2018Sell. Every. Megawatt.\u2019<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20231012485637\/en\/<\/a><\/span><\/p>\n

\nSam Sova
\n
Founder and CEO
\n
SOVA
\n
Sam@teamsova.biz<\/a><\/p>\n

KEYWORDS:<\/b> New York United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Data Management Technology Sustainability Nuclear Building Systems Commercial Building & Real Estate Construction & Property Environment Utilities Security Oil\/Gas Green Technology Alternative Energy Energy Artificial Intelligence Telecommunications Software Networks Internet Hardware Electronic Design Automation<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Soluna Announces 1-for-25 Reverse Stock Split ALBANY, N.Y.–(BUSINESS WIRE)– Soluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), announced that it will execute a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25. The reverse stock split was approved by the Board of Directors and by shareholders at the annual meeting of the stockholders on June 29, 2023. The reverse stock split will become effective at 5:00 p.m. Eastern Time, on October 13, 2023. The Company’s common stock will begin trading on a post-split basis at the market open on October 16, 2023, under the Company’s existing trading symbol “SLNH”. At the effective time, every 25 … <\/p>\n

Continue reading “Soluna Announces 1-for-25 Reverse Stock Split”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-789930","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSoluna Announces 1-for-25 Reverse Stock Split - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/soluna-announces-1-for-25-reverse-stock-split\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Soluna Announces 1-for-25 Reverse Stock Split - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Soluna Announces 1-for-25 Reverse Stock Split ALBANY, N.Y.–(BUSINESS WIRE)– Soluna Holdings, Inc. (\u201cSHI\u201d or the \u201cCompany\u201d), (NASDAQ: SLNH), the parent company of Soluna Computing, Inc. (\u201cSCI\u201d), announced that it will execute a reverse stock split of its outstanding shares of common stock at a ratio of 1-for-25. The reverse stock split was approved by the Board of Directors and by shareholders at the annual meeting of the stockholders on June 29, 2023. The reverse stock split will become effective at 5:00 p.m. Eastern Time, on October 13, 2023. The Company’s common stock will begin trading on a post-split basis at the market open on October 16, 2023, under the Company’s existing trading symbol “SLNH”. 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