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Soluna and Gynger Partner to Make Sustainable AI Computing More Accessible with Flexible Financing

Dec 16, 2024•over 1 year ago

Contract Type

partnership

New YorkManufacturingFinancial Services

Description

Soluna Holdings, Inc. announced a strategic partnership between its subsidiary Soluna Cloud and Gynger, the leading embedded payments platform for technology. The partnership aims to make renewable-powered high-performance computing solutions more accessible to customers, providing flexible payment options to adopt Soluna’s cutting-edge AI Cloud without upfront costs.

Company Information

Company

Soluna Holdings

Location

New York, United States

About

The Company expects to issue an aggregate of approximately $29 million of shares of Series A Preferred Stock in connection with the concurrent offerings, and expects the extinguishment of an aggregate principal amount of $20 million of outstanding promissory notes of the Company held by institutional lenders in exchange for the shares of Series A Preferred Stock issued to such lenders in connection with the registered direct offering. The Company expects to receive an aggregate amount of approximately $9.2 million from the underwritten public offering, before deducting underwriting discounts and other estimated offering fees and expenses. Soluna Holdings, Inc. (“SHI”) (Nasdaq: SLNH) is the leading developer of green data centers that convert excess renewable energy into global computing resources.

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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months