Soluna Holdings Amends Convertible Notes and Warrants to Facilitate Early Payoff

Soluna Holdings, Inc

Agreed to reduce conversion price of $4.7M in notes to $3.78 per share and 150,000 warrants' exercise price to $0.01.
Gained right to force conversion of up to $1.5M of notes if share price exceeds $4.25 and volume reaches 50,000 shares for 5 days.
Prepayment penalty reduced from 20% to 10% for prepayments between February 15 and July 24, 2024.
Escrow agreement amended to allow withdrawal of up to $500,000 through December 31, 2023, with remaining funds to pay notes at maturity.
CEO stated amendment is a step toward less-dilutive financing to support growth and project pipeline.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Soluna Holdings, Inc amended Third Amendment Agreement with certain accredited investors (the "Noteholders") (effective 2023-11-20).

Action: amendment
Agreement: credit facility
Counterparty: certain accredited investors (the "Noteholders")
Effective: 2023-11-20

Exact text from the filing

On November 20, 2023 the Company and the Noteholders entered into a Third Amendment Agreement to amend the Notes, the October SPA and related agreements

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23 material agreements filed in the last 30 days. Browse all material agreements →

Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001493152-23-042538

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