Soluna Holdings, Inc (SLNH) Form 8-K — Oct 21, 2026
Soluna Holdings signed a Subscription Agreement with affiliates of Applied Digital to form a jointly owned company developing a 50 MW Critical I.T. AI/HPC data center at Project Dorothy 3 in Briscoe County, Texas. Soluna will hold 49% via an $18.75M ground-sublease contribution; Applied will hold 51% via a $19.5M cash contribution, with closing expected by December 1, 2026. At closing, Soluna will issue a 7-year warrant for 7,644,444 shares at $0.74 exercise, plus a registration rights agreement, creating meaningful dilution potential given Soluna's small-cap size.
Key figures
- Outside date
- December 1, 2026 (extendable to December 31, 2026)
- Warrant shares
- 7644444
- Jv stake soluna
- 49%
- Jv stake applied
- 51%
- Warrant term years
- 7
- Project capacity mw
- 50 MW Critical I.T. (75 MW gross)
- Reimbursement share
- 80%
- Site power capacity
- 100 MW firm (potential 150 MW)
- Ground sublease value
- $18,750,000
- Warrant exercise price
- 0.74
- Applied cash contribution
- $19,515,306
- Funded cost reimbursement cap
- $45 million
AI analysis
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