Soluna Holdings, Inc (SLNH): M&A transaction — NYDIG forecloses on Soluna's mining assets at Project Marie; facility shut down

Soluna Holdings, Inc

NYDIG foreclosed on all collateral securing $11.65M MEFA debt on Feb 23, 2023.
Foreclosure covers substantially all mining assets at Project Marie (20 MW Kentucky facility).
Soluna elected to shut down Marie facility; will focus on Dorothy facility.
Borrower received termination of Management and Hosting Services Agreement with CC Metals and Alloys.
Soluna exploring Chapter 7 bankruptcy petition for borrower to extinguish ~$12M debt.

item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.85

Soluna Holdings, Inc completed a disposition involving NYDIG ABL LLC (closed 2023-02-23).

Action: disposition
Counterparty: NYDIG ABL LLC
Closing: 2023-02-23

Exact text from the filing

On February 23, 2023, NYDIG proceeded to foreclose on all of the collateral securing the MEFA, which resulted in a reportable disposition of all of the Company's mining assets at the site and certain of the operating assets of Project Marie

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Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001493152-23-006402

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