Soluna sells MTI Instruments for $10.75M enterprise value, exits instruments business

Soluna Holdings, Inc

Sale to Vitrek LLC; $9.25M cash at closing subject to adjustments; enterprise value $10.75M.
Company shifts focus entirely to green computing and cryptocurrency mining for zero-carbon data centers.
MTI CEO Moshe Binyamin departs; receives ~$40,000 transaction bonus and full vesting of stock awards.
MTI was reported as discontinued operations as of Dec 31, 2021; sale closes on April 11, 2022.

item 1.01 item 2.01 item 5.02 item 8.01 item 9.01

Executive movements

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Departed

Moshe Binyamin

Other Named Officer

SLNH · Soluna Holdings, Inc

Filed: April 15, 2022, 7:59 PM ET

In connection with the sale of MTI and Mr. Binyamin’s departure from the Company

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Moshe Binyamin departed as other_named_officer at Soluna Holdings, Inc.

Action: departed

Exact text from the filing

In connection with the sale of MTI and Mr. Binyamin’s departure from the Company

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Soluna Holdings, Inc filing history →

Source: SEC EDGAR

accession 0001753926-22-000525

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