Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 149

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 149
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11,852  
     - 
  
    Distributions to non-controlling interest 
     (3,575) 
     (5,776)
  
    Proceeds from warrant exercises 
     -  
     2,304 
  
    Net proceeds from SEPA and ATM 
     4,051  
     - 
  
    Net cash provided by financing activities 
    $14,322  
    $7,838 

Net
cash provided by financing activities was approximately $14.3 million for the six months ended June 30, 2025 consisting mainly of
$5.3 million of debt issuance proceeds, $4.1 million of net proceeds from SEPA draws and ATM Agreement settlements, and $11.9
million of contributions from non-controlling interest, offset with cash distributions to non-controlling interest members of
approximately $3.6 million and payments on debt and deferred financing costs of approximately $3.3 million to the Green Cloud
Secured Loan, CloudCo Additional Secured Loan, Navitas term loan, and for deferred financing costs. Net cash provided by financing
activities for the six months ended June 30, 2024 was approximately $7.8 million consisting mainly of proceeds from financing of
approximately $13.2 million in which $12.5 million was from 2024 secured loan financing and $720 thousand was drawn down for
equipment financing. In addition, there was $2.3 million in warrants exercised. Offsetting the net cash provided by financing
activities was $5.8 million in cash distributions to non-controlling interest members, and payments of $1.9 million relation to
Navitas loan and deferred financing charges.

Debt

    June 30, 2025  
    December 31, 2024 
  
    (Dollars in thousands) 

    Galaxy loan 
    $4,480  
    $- 
  
    NYDIG Equipment Financing 
     9,183  
     9,183 
  
    Equipment loan 
     519  
     - 
  
    Navitas Term Loan 
     -  
     137 
  
    Green Cloud Secured Note 
     9,094  
     10,983 
  
    CloudCo Additional Secured Loan 
     -  
     1,202 
  
    Total Debt 
    $23,276  
    $21,505