---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-036516"
form_type: "8-K"
ticker: "SLNH"
cik: "0000064463"
company_name: "Soluna Holdings, Inc"
filed_at: "2022-12-27T23:59:59+00:00"
generated_at: "2026-06-20T23:07:28.428413+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Soluna subsidiary gets acceleration on $11.65M debt; Nasdaq warns on bid price

## Summary
- NYDIG declared all ~$11.65M due immediately, imposed default rate, demanded equipment return.
- Borrower believes collateral market value is substantially less than the $11.65M owed.
- Cross-default on ~$13M convertible notes; failure to escrow $950k also triggered default.
- Nasdaq notice: common stock bid below $1.00 for 30 days; 180-day cure period until June 2023.
- Company in discussions with NYDIG and noteholders; no remedies exercised yet.

## SEC filing metadata
- accession: 0001493152-22-036516
- form_type: 8-K
- ticker: SLNH
- cik: 0000064463
- company_name: Soluna Holdings, Inc
- filed_at: 2022-12-27T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.04, 3.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64463/000149315222036516/0001493152-22-036516-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64463/000149315222036516/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-036516
- JSON: https://secwatch.observer/filing/0001493152-22-036516.json
- Plain text: https://secwatch.observer/filing/0001493152-22-036516.txt

## Key facts
- Debt Financings
  Soluna Holdings, Inc faced acceleration on loan of $11,651,333 (aggregate principal and interest) with NYDIG ABL LLC at default rate of interest (not specified) maturing Not specified.
  - Instrument: loan
  - Principal: $11,651,333 (aggregate principal and interest)
  - Counterparty: NYDIG ABL LLC
  - Rate: default rate of interest (not specified)
  - Maturity: Not specified
  - Event: acceleration
  source text: As a result of the foregoing events of default, and pursuant to the MEFA, NYDIG (x) declared the principal amount of all loans due and owing under the MEFA and all accompanying Loan Documents (as defined in the MEFA) to be due and immediately payable, (y) imposed a default rate of interest on any outstanding principal amount of each loan (together with all then unpaid interest accruing thereon) and all other obligations under the MEFA and the Loan Documents, and (z) demanded the return of all equipment subject to the MEFA and the Loan Documents. The approximate aggregate principal and interest outstanding under the MEFA and the Loan Documents as of December 20, 2022, are $11,651,333.
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315222036516/0001493152-22-036516-index.htm
- Debt Financings
  Soluna Holdings, Inc reported a default on convertible notes of $13,005,022 (principal outstanding) with certain investors (Noteholders) at 18% per annum (if event of default continues for 5 days) maturing Not specified.
  - Instrument: convertible notes
  - Principal: $13,005,022 (principal outstanding)
  - Counterparty: certain investors (Noteholders)
  - Rate: 18% per annum (if event of default continues for 5 days)
  - Maturity: Not specified
  - Event: default
  source text: not so cured during such period, will result in an event of default under the Notes. The approximate amount of principal outstanding under the Notes as of December 20, 2022 is $13,005,022. If an event of default is still continuing five days after the occurrence thereof, then the Notes will begin accruing interest at the rate of 18% per annum on the outstanding
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315222036516/0001493152-22-036516-index.htm
- Listing & Compliance Notices
  Soluna Holdings, Inc received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2)
  source text: December 21, 2022, the Company received a letter (the “Nasdaq Notice”) from the Listing Qualifications Staff of The NASDAQ Stock Market LLC (“Nasdaq”) indicating that, based upon the closing bid price of the Company’s common stock (the “Common Stock”) for the last 30 consecutive business days, the Common Stock no longer meets the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2). The Notice has no immediate effect on the listing of the Company’s Common Stock on the Nasdaq Capital Market. In accordance with NASDAQ Listing Rule
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315222036516/0001493152-22-036516-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.