Soluna Holdings Announces $32M Securities Purchase Agreement

Soluna Holdings ( (SLNH) ) has shared an update.

On December 4, 2025, Soluna Holdings entered into a securities purchase agreement for a registered direct offering, involving the sale of common stock and warrants to raise approximately $32 million. The offering, priced at-the-market under Nasdaq rules, is expected to close on December 5, 2025, with proceeds intended for working capital and general corporate purposes. The company has agreed to certain restrictions on issuing and selling shares post-offering and has appointed H.C. Wainwright & Co. as the exclusive placement agent.

The most recent analyst rating on (SLNH) stock is a Sell with a $1.50 price target. To see the full list of analyst forecasts on Soluna Holdings stock, see the SLNH Stock Forecast page.

Spark’s Take on SLNH Stock

According to Spark, TipRanks’ AI Analyst, SLNH is a Underperform.

Soluna Holdings’ overall stock score is primarily impacted by its weak financial performance and valuation. The company’s high leverage, negative profitability, and poor cash flow management are significant concerns. Technical analysis indicates bearish momentum, further weighing on the stock’s attractiveness.

To see Spark’s full report on SLNH stock, click here.

More about Soluna Holdings

Soluna Holdings, Inc. is a developer of green data centers designed for intensive computing applications. The company focuses on transforming surplus renewable energy into global computing resources, strategically co-locating its data centers with wind, solar, or hydroelectric power plants. Soluna’s operations support high-performance computing applications such as Bitcoin Mining and Generative AI, utilizing its proprietary software MaestroOS™ to deliver sustainable computing solutions.

Average Trading Volume: 15,894,578

Technical Sentiment Signal: Sell

Current Market Cap: $130.7M

Learn more about SLNH stock on TipRanks’ Stock Analysis page.