Soluna files to issue more shares after 330% rally

Group 1 - Soluna Holdings (SLNH) stock has surged approximately 116% over the past week and 330% over the last month, driven by renewed investor interest in its green data-center model and recent financing updates [1] - On September 23, Soluna filed a prospectus supplement to update its ATM offering program, authorizing the sale of up to $87.65 million of common shares through H.C. Wainwright as agent [2] - Soluna's public float is now reported at $98.5 million, exceeding the $75 million threshold under SEC rules, which removes the "baby-shelf" limit on primary offerings [3] Group 2 - Despite the removal of the baby-shelf cap, Soluna's near-term ATM capacity is constrained by its charter, with only about 4.3 million shares remaining authorized for issuance as of September 22, 2025 [4] - Raising the authorized share limit would require a charter amendment subject to stockholder approval, and as of the filing, Soluna has not announced plans for such an amendment [5] - At the time of publication, SLNH is up 30% from the previous day's close [6]