Name changed to Soluna Holdings from Mechanical Technology
Company sold an addition 445,714 Shares at $17.50 on 12/27/2021
Preferred Dividend is suspended
On and after 6/30/2022 optional redemption is at $25.75 until 6/29/23. On and after 6/30/2023 until 6/29/2024 redemption is at $25.50. On and after 6/30/2024 until 6/29/2025 redemption is at $25.25. Redemption on or after 6/30/2025 redemption is at $25.00
On and after 8/31/2023 optional redemption is at 103% until 8/30/24. On and after 8/31/2024 until 8/30/2025 redemption is at 102%. On and after 8/31/2025 redemption is at 100%
Preferred dividend suspended 1/5/2023
This issue has been reopened a number of times and as of 7/31/2021 there were 1.223 million shares outstanding. Additionally the company has had an ‘at the money’ program selling shares on an ongoing basis.
At a special meeting on 8/29/2024 is was voted to convert the preferred shares into common shares at a rate of 3.9 shares of common for each preferred share.