Soluna Holdings completes acquisition of Soluna Computing; adds 300 MW pipeline under LOI

Soluna Holdings, Inc

Acquisition of SCI completed; SCI becomes wholly-owned subsidiary of EcoChain; merger consideration up to 2.97M shares valued at ~$34.8M.
Company name changed from Mechanical Technology, Incorporated to Soluna Holdings, Inc. effective Nov 2, 2021.
Added 300 MW pipeline under LOI, bringing EcoChain's total to 350 MW; over 200 MW more under active development.
John Belizaire appointed President & CEO of EcoChain and elected to Board; John Bottomley also elected to Board.
Shareholders approved merger; 150,000 shares and $725k cash to HEL under Termination Agreement.

item 2.01 item 5.07 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

John Bottomley

Director

SLNH · Soluna Holdings, Inc

Effective: 2021-10-29
Filed: November 4, 2021, 7:59 PM ET

and John Bottomley, a director of HEL and a director of SCI until the effective time of the Merger, to the Company’s Board of Directors.

Appointed

John Belizaire

President and Chief Executive Officer

SLNH · Soluna Holdings, Inc

Effective: 2021-10-29
Filed: November 4, 2021, 7:59 PM ET

the Company’s Board of Directors elected John Belizaire, who served as Chief Executive Officer and a director of SCI until the effective time of the Merger, a director of HEL, and now President and Chief Executive Officer of EcoChain pursuant to the employment agreement described below

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

John Bottomley was elected as Director at Soluna Holdings, Inc.

Action: elected
Role: Director

Exact text from the filing

and John Bottomley, a director of HEL and a director of SCI until the effective time of the Merger, to the Company’s Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

John Belizaire was elected as President and Chief Executive Officer at Soluna Holdings, Inc.

Action: elected
Role: President and Chief Executive Officer

Exact text from the filing

the Company’s Board of Directors elected John Belizaire, who served as Chief Executive Officer and a director of SCI until the effective time of the Merger, a director of HEL, and now President and Chief Executive Officer of EcoChain pursuant to the employment agreement described below

View on SEC.gov

Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001753926-21-000632

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