Albany, New York – 
Holdings, Inc. (“SHI” or the “Company”), (NASDAQ: SLNH), formerly Mechanical Technology,
Inc., the parent company of Soluna Computing, Inc. (“SCI”), a cryptocurrency
mining business powered by renewable energy, and MTI Instruments, Inc.
(“MTI Instruments”), a test and measurement instruments and systems business,
today announced that its Board of Directors has declared the regular monthly
cash dividend on its shares of 9.0% Series A Cumulative Perpetual Preferred
Stock, par value $0.001 per share (the “Series A Preferred Stock”) for the
month ended February 28, 2022. The dividend will be payable on or about
February 28, 2022, to holders of the Series A Preferred Stock of record as of
the close of business on February 17, 2022 at a rate of $0.1875 per share.
Future dividends on the Series A Preferred Stock will be payable when, as and
if declared by the Board of Directors monthly in arrears on the final day of
each month or the next business day at an annual rate of 9.0% of the $25.00
liquidation preference per share.
The Series
A Preferred Stock trade on the Nasdaq Stock Market LLC under the symbol
“SLNHP”.
About
Soluna Holdings, Inc.
Soluna
Holdings, Inc. (Nasdaq: SLNH) is the leading developer of green data centers
that convert excess renewable energy into global computing resources. Soluna
builds modular, scalable data centers for computing intensive, batchable
applications such as cryptocurrency mining, AI and machine learning.
Soluna provides a cost-effective alternative to battery storage or transmission
lines. Soluna’s MTI Instruments division manufactures precision tools and testing
equipment for electronics, aviation, automotive, power and other industries.
Both Soluna and MTI Instruments use technology and intentional design to solve
complex, real-world challenges. Up
to 30% of the power of renewable energy projects can go to waste. Soluna’s data
centers enable clean electricity asset owners to ‘Sell. Every. Megawatt.’
For more
information about Soluna, please visit www.solunacomputing.com or
follow us on LinkedIn at linkedin.com/solunaholdings and
Twitter @SolunaHoldings.
Forward Looking Statements
The
statements in this press release with respect to the payment of dividends on
the Series A Preferred Stock constitute forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements reflect
management’s current expectations, as of the date of this press release, and
are subject to certain risks and uncertainties that could cause actual results
to differ materially from future results expressed or implied by such
forward-looking statements. Actual results could differ materially from those
expressed or implied by such forward-looking statements as a result of various
factors, including, but not limited to: (1) those risk factors set forth in the
Company’s Registration Statement on Form S-1 (File No. 333-257300), as amended;
and (2) other risks and uncertainties that may be detailed from time to time in
SHI’s reports filed with the SEC. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
made. Except as required by law, the Company assumes no obligation to update or
revise any forward-looking statements.
Contact
Information:
Lisa
Brennan
lbrennan@mtiinstruments.com
Investor
Relations:
Kirin
Smith, President
PCG Advisory, Inc.
646.823.8656
Ksmith@pcgadvisory.com