The bitcoin mining and data center operator Soluna (NASDAQ: SLNH) approved an amendment to increase its authorized common stock from 75 million to 375 million shares, following a special meeting of stockholders on November 7.
Authorized shares represent the maximum number of shares a company is legally allowed to issue, as approved by shareholders in its charter. Issued shares are the portion of those authorized shares that have actually been sold or granted to investors.
Companies often authorize more shares than they immediately issue to allow flexibility for future fundraising, acquisitions, or employee stock programs. Increasing authorized shares does not dilute shareholders until new shares are issued.
Soluna has previously filed for selling up to $87.65 million of common shares through H.C. Wainwright following the 300% rally in September.
Outside of equity raise, the bitcoin miner also closed a scalable credit facility of up to $100 million with Generate Capital to refinance and construct its green data center projects, drawing an initial $12.6 million to fund active builds and refinance existing assets.
