---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-013614"
form_type: "8-K"
ticker: "SLNH"
cik: "0000064463"
company_name: "Soluna Holdings, Inc"
filed_at: "2025-09-16T23:59:59+00:00"
generated_at: "2026-05-17T06:35:00.851628+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Soluna secures up to $100M credit facility from Generate Capital for green data centers

## Summary
- Initial $12.6M draw to refinance Dorothy 1A and Dorothy 2 projects; unlocks equity capital.
- Credit facility includes $22.9M delayed draw and $64.5M uncommitted accordion for pipeline growth.
- Generate receives warrants to purchase 4M shares of common stock and a board observer right.
- Facility is limited recourse, secured by project assets, with no parent company guarantees.
- Maturity date for Tranche A and B loans is September 12, 2030; interest SOFR + 10.0%.

## SEC filing metadata
- accession: 0001493152-25-013614
- form_type: 8-K
- ticker: SLNH
- cik: 0000064463
- company_name: Soluna Holdings, Inc
- filed_at: 2025-09-16T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/64463/000149315225013614/0001493152-25-013614-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/64463/000149315225013614/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-013614
- JSON: https://secwatch.observer/filing/0001493152-25-013614.json
- Plain text: https://secwatch.observer/filing/0001493152-25-013614.txt

## Key facts
- Debt Financings
  Soluna Holdings, Inc incurred credit facility of up to $35.5 million with Generate Lending, LLC, as administrative agent and collateral agent; Generate Strategic Credit Master Fund I-A, L.P., as Lender at Term SOFR plus a margin of 10.0% per annum, and for ABR loans is equal to the AB maturing September 12, 2030.
  - Instrument: credit facility
  - Principal: up to $35.5 million
  - Counterparty: Generate Lending, LLC, as administrative agent and collateral agent; Generate Strategic Credit Master Fund I-A, L.P., as Lender
  - Rate: Term SOFR plus a margin of 10.0% per annum, and for ABR loans is equal to the AB
  - Maturity: September 12, 2030
  - Event: incurrence
  source text: to enter into a Credit and Guaranty Agreement (the “Credit Agreement”) with Generate Lending, LLC, as administrative agent and collateral agent (the “Agent”), and Generate Strategic Credit Master Fund I-A, L.P. (the “Lender”). The Credit Agreement provides for senior secured term loan commitments in an aggregate principal amount of up to $35.5 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315225013614/0001493152-25-013614-index.htm
- Equity Issuances
  Soluna Holdings, Inc issued up to 2,000,000 shares of Common Stock of warrant to Generate Strategic Credit Master Fund I-B, L.P..
  - Security: warrant
  - Shares: up to 2,000,000 shares of Common Stock
  - Purchaser: Generate Strategic Credit Master Fund I-B, L.P.
  source text: a pre-funded warrant (the “Pre-Funded Warrant”) to purchase up to 2,000,000 shares of common stock of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315225013614/0001493152-25-013614-index.htm
- Equity Issuances
  Soluna Holdings, Inc issued up to 2,000,000 shares of Common Stock of warrant to Generate Strategic Credit Master Fund I-B, L.P..
  - Security: warrant
  - Shares: up to 2,000,000 shares of Common Stock
  - Purchaser: Generate Strategic Credit Master Fund I-B, L.P.
  source text: a common warrant (the “Common Warrant” and, together with the Pre-Funded Warrant, the “Warrants”) to purchase up to 2,000,000 shares of Common Stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/64463/000149315225013614/0001493152-25-013614-index.htm

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