Soluna inks 4th amendment to convertible notes, reduces conversion price to $3.78

Soluna Holdings, Inc

Conversion price reduced to $3.78/share; noteholders get 850,000 three-year warrants exercisable at $0.01.
Company may raise up to $3M via warrant reprice program; 530,569 warrants repriced at $3.78 or $6.00.
ATM offering allowed with floor price $10/share (reduces to $8 after 6 mos, $6 after 12 mos), subject to stockholder approval.
Company can extend note maturity by 3 months twice with 2% principal increase per extension.
Stockholder approval required by May 30, 2024; until then, principal cannot go below $5M.

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 Fourth Amendment Agreement with certain institutional and accredited investors (the "Purchasers") (effective 2024-02-28).

Action: amendment
Agreement: equity purchase
Counterparty: certain institutional and accredited investors (the "Purchasers")
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024 the Company and the Purchasers entered into a Fourth Amendment Agreement to amend the Notes, SPA and related agreements

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Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001493152-24-008481

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