Credit · Tracked as filed as of 2026-04-17
Soluna
- Borrower
- Soluna Wind Holding (guarantee)
- Seniority
- Parent-level unsecured
- Maturity
- 2027-05-15
- Lenders
- YA II PN, LTD. (Yorkville)
- Pricing
- 5% (18% default); +2.4M warrants @ $1.06
- Terms
- Up to $12.0M; amortizing $1.2M/mo + 5% premium (July balance UNVERIFIED)
Source: 8-K 4/17/26 · document
- Borrower
- Briscoe Wind Farm LLC (guarantor)
- Seniority
- Senior secured
- Maturity
- 2030-09-12
- Collateral
- Briscoe 149.85 MW wind project (TX); warrants to Generate
- Lenders
- Generate entities
- Pricing
- Term SOFR + 8.0% / ABR + 7.0%
- Terms
- $12.5M commitment; draw at close UNVERIFIED until Q2 10-Q
Source: 8-K 4/3/26; 10-Q Note 16 · document
- Borrower
- Kati Phase 2
- Seniority
- Related-party project loan
- Maturity
- 2027-05-16
- Collateral
- Kati Phase 2 land
- Lenders
- Soluna2 Kati Project Holdco (Spring Lane)
- Pricing
- 0% (1.00x MOIC)
Source: Q1-26 10-Q Note 8 · document
- Borrower
- Dorothy 1A / Dorothy 2 / Kati project entities
- Seniority
- Senior secured, project-level; non-recourse to parent
- Maturity
- 2030-09-12
- Collateral
- 1st liens, equity pledges, mortgages — Dorothy 1A / Dorothy 2 / Kati
- Lenders
- Generate Lending LLC (agent)
- Pricing
- Term SOFR + 10.0% (3.50% floor; +2% default) — 14.24% at 3/31/26
- Terms
- $15.80M outstanding; commitments A-1 $5.5M / A-3 $11.5M / B $6.0M + $64.5M uncommitted accordion
Source: Q1-26 10-Q Note 8 · document
- Borrower
- Soluna SW LLC (Project Sophie)
- Seniority
- Project-level secured, limited recourse; DSCR covenants
- Maturity
- 2030-03-12
- Collateral
- Soluna SW LLC (Project Sophie) assets
- Lenders
- Galaxy Digital LLC
- Pricing
- 15% (20% default)
- Terms
- $4.50M outstanding (originally $5.0M)
Source: Q1-26 10-Q Note 8; FY25 10-K · document
- Borrower
- Soluna Cloud
- Seniority
- Secured; parent co-obligor since Mar 2025
- Maturity
- 2027-06-20
- Collateral
- Substantially all Soluna Cloud Services assets
- Lenders
- Unnamed "accredited investor" (undisclosed in all filings)
- Pricing
- Convertible to 2.5M shares @ $5.00
- Terms
- $7.32M outstanding (originally $12.5M)
Source: Q1-26 10-Q Note 8 · document
- Seniority
- Related-party
- Maturity
- 2027-05-16
- Collateral
- Dorothy 2 / Kati equipment
- Lenders
- Soluna2 SLC Fund II Project Holdco
- Pricing
- 15% + 3.0x MOIC provision
- Terms
- Up to $4.0M; $0 drawn
Source: Q1-26 10-Q Note 8 · document
Collateral classes on this page: out, operator_campus, gpu. The full
ledger, with every issuer and the derived credit series, is on Compute Credit.