Soluna Holdings, Inc. Enters into $35.5 Million Credit Agreement

On September 12, 2025, Soluna Holdings, Inc. (the 'Company') entered into a Credit and Guaranty Agreement with Generate Lending, LLC, as administrative agent and collateral agent, and Generate Strategic Credit Master Fund I-A, L.P., as lender. The Credit Agreement provides for senior secured term loan commitments in an aggregate principal amount of up to $35.5 million, comprised of Tranche A-1 ($5.5 million), Tranche A-3 ($11.5 million), and Tranche B ($18.5 million). The Company can draw upon Tranche B from September 12, 2025, until October 31, 2026, subject to certain conditions. The maturity date for the Tranche A and Tranche B loans is the earlier of (i) payment of outstanding principal, interest, and fees and (ii) September 12, 2030. Proceeds from the Credit Agreement will be used to finance, refinance, develop, and construct the Company’s Dorothy 1A, Dorothy 2, and Kati data center projects, fund a debt service reserve account, and pay fees and expenses. The Credit Agreement also includes customary representations, warranties, covenants, and events of default. Additionally, the Company issued warrants to purchase up to 4,000,000 shares of common stock in a private placement.