01:57 PM EDT, 09/09/2024 (MT Newswires) -- Soluna Holdings ( SLNH ) said Monday it has secured a $25 million standby equity purchase agreement with a fund managed by Yorkville Advisors Global.

The financing will allow the company to support its Cloud AI operations and data center development, allocate more capital to projects and pay off convertible notes.

The financing is unsecured, has a one-year term with 0% interest and doesn't include any warrants or other financial instruments, Soluna ( SLNH ) said.

Shares of Soluna ( SLNH ) fell 7.2% in recent Monday trading.

Price: 3.11, Change: -0.24, Percent Change: -7.20