Soluna Completes Full Repayment of Generate Capital Debt

The release of project-asset liens allows power to transition to the Dorothy 3 AI campus.

Rhea-AI Summary

Soluna Holdings (NASDAQ: SLNH) has fully repaid its Generate Capital credit facility, retiring $28.7 million in principal outstanding at June 30, 2026. Soluna repaid $19.1 million in August and the remainder in October 2026.

The repayment cuts total company debt principal by 76% from $37.9 million at June 30 to $9.2 million, reflecting the remaining debt balances as of that date. The facility has been terminated and liens on the related project assets released, allowing the transition of power to the Dorothy 3 AI campus.

2 points · 1 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point$28.7 million in Generate principal retired, cutting total debt principal 76% versus June 30, 2026. 21% of market cap
• Minor point. Forward-looking: it has not happened yet and may not happen.Project-asset liens released following facility termination, allowing power to transition to the Dorothy 3 AI campus.

Negative

• None.

Argus 15 min delay 6 alerts

+5.25% vs previous close $0.58 last price 3.3x rel. volume Open Argus

Details

Market move: SLNH +5.25% vs previous close. Generate debt repayment

$0.54 – $0.59 Day Range

$141.62M Mkt Cap at Last Price

On Oct 26, the day this news came out, the latest delayed price for SLNH is 5.25% above the previous close. Our momentum scanner has recorded 6 alerts for this stock so far that day. The latest delayed price is $0.58. Relative volume is very high at 3.3x the average.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.

Key Figures

Generate debt principal repaid: $28.7 million Total debt principal: $37.9 million to $9.2 million Debt principal reduction: 76% +1 more

Generate debt principal repaid

$28.7 million

Outstanding at June 30, 2026; repaid in full

Total debt principal

$37.9 million to $9.2 million

Company debt principal before and after the Generate facility retirement

Debt principal reduction

76%

Since June 30, 2026

August Generate debt repayment

$19.1 million

Repaid in August 2026

Historical Context

1 past event · Latest: Oct 21

1 event

1. Oct 21

   AI partnership

   24h Move

   -2.8%

   JV set terms for a planned 50 MW AI data center at Dorothy 3.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

credit facility, principal, liens, capital structure

4 terms

credit facility financial

"under its credit facility with Generate Capital"

A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.

principal financial

"$28.7 million in principal outstanding"

Principal is the core sum of money at stake — the original amount invested, loaned, or still owed on a debt — and can also mean the main party involved in a transaction. Think of it as the seed from which interest, gains or losses grow: it determines how much interest accrues, how much must be repaid, and how big an investor’s exposure or claim is in a deal, so it directly affects returns and risk.

liens financial

"Generate's liens on the related project assets have been released"

Liens are legal claims or rights that a creditor has over a person's property, such as a home or car, as a way to secure repayment of a debt. If the debt remains unpaid, the creditor may have the authority to take or sell the property to recover what is owed. For investors, liens can affect the value or sale of property and represent a potential risk or priority in getting paid during financial disputes.

capital structure financial

"It simplifies our capital structure"

Capital structure is the way a company finances its operations and growth by using different sources of money, such as borrowed funds (loans or bonds) and owner’s equity (investments from owners or shareholders). It’s like a recipe for baking a cake, where the balance of ingredients affects the final product's strength and taste; similarly, the mix of debt and equity influences a company's stability and risk. For investors, understanding a company's capital structure helps gauge how risky it might be to invest or lend money.

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Company cuts total debt principal by 76% since June 30, 2026

ALBANY, N.Y., Oct. 26, 2026 /PRNewswire/ -- Soluna Holdings, Inc. ("Soluna" or the "Company") (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including AI and Bitcoin mining, today announced that it has repaid, in full, the $28.7 million in principal outstanding, as of June 30, 2026, under its credit facility with Generate Capital, PBC ("Generate"). The facility has been terminated, and Generate's liens on the related project assets have been released, allowing for the transition of power to the Dorothy 3 AI campus.

Soluna repaid $19.1 million of Generate debt in August 2026, as disclosed in its most recent quarterly report on Form 10-Q, and paid off the remainder in October 2026, fully retiring the Generate facility.  With the facility retired, the Company's total debt principal falls from $37.9 million at June 30, 2026 to $9.2 million, which reflects its remaining debt balances as of that date.

"Repaying the Generate facility in full retires this portion of our debt and releases the liens on those project assets," said Michael Picchi, CFO of Soluna. "It simplifies our capital structure as we continue developing our AI and high-performance computing pipeline."

Soluna entered into the Generate credit facility in September 2025 to refinance Dorothy 1A and Dorothy 2, unlocking project equity capital, and to fund the completion of Dorothy 2. Generate financing also helped fund the Company's April 2026 acquisition of the 150 MW Briscoe Wind Farm, giving Soluna ownership of the renewable generation asset powering Project Dorothy.

"Generate's support helped us unlock equity in our Dorothy projects, complete Dorothy 2 and acquire the Briscoe Wind Farm," said John Belizaire, CEO of Soluna. "Their team understood our business and backed us at an important stage of our growth. We're grateful for that partnership as we mark the full repayment of this debt."

Highlights

• Generate debt fully repaid: $19.1 million repaid in August 2026; remaining balance repaid in October 2026.
• $28.7 million of principal retired: Soluna has repaid $28.7 million of the $37.9 million in total company debt principal outstanding as of June 30, 2026.
• Briscoe Wind Farm: Generate financing supported Soluna's April 2026 acquisition of the Briscoe Wind Farm.
• Facility terminated: The Generate credit facility has been terminated, and the liens on the related project assets have been released.

For more details, visit Soluna's Investor Center.

Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident," and similar statements. Other examples of forward-looking statements may include, but are not limited to, statements of Soluna's plans and objectives, including with respect to the effects of the repayment of the Generate credit facility on Soluna's capital structure and the development of Project Dorothy, and Soluna may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC"), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including but not limited to statements about Soluna's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, further information regarding which is included in the Company's filings with the SEC. All information provided in this press release is as of the date of the press release, and Soluna undertakes no duty to update such information, except as required under applicable law.

About Soluna Holdings, Inc. (Nasdaq: SLNH)
Soluna is on a mission to make renewable energy a global superpower, using computing as a catalyst. The company designs, develops, and operates digital infrastructure that transforms surplus renewable energy into global computing resources. Soluna's pioneering data centers are strategically co-located with wind, solar, or hydroelectric power plants to support high-performance computing applications, including Bitcoin Mining, Generative AI, and other compute-intensive applications.  Soluna's proprietary software MaestroOS(™) helps energize a greener grid while delivering cost-effective and sustainable computing solutions and superior returns. To learn more, visit solunacomputing.com and follow us on:

LinkedIn: https://www.linkedin.com/company/solunaholdings/
X (formerly Twitter): x.com/solunaholdings
YouTube: youtube.com/c/solunacomputing
Newsletter: bit.ly/solunasubscribe
Resource Center: solunacomputing.com/resources

Soluna regularly posts important information on its website and encourages investors and potential investors to consult the Soluna investor relations and investor resources sections of its website regularly.

View original content to download multimedia:https://www.prnewswire.com/news-releases/soluna-completes-full-repayment-of-generate-capital-debt-302918861.html

SOURCE Soluna Holdings, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much Generate Capital debt did Soluna repay?

Soluna fully repaid the $28.7 million of Generate Capital principal outstanding at June 30, 2026. It repaid $19.1 million in August 2026 and the remaining balance in October 2026, fully retiring the facility.

What did Soluna's Generate Capital financing fund?

The Generate facility refinanced Dorothy 1A and Dorothy 2, unlocked project equity capital and funded completion of Dorothy 2. The financing also helped fund Soluna's April 2026 acquisition of the 150 MW Briscoe Wind Farm, the renewable generation asset powering Project Dorothy.