Mechanical Technology, Inc.

NASDAQ:MKTY  
8.81
+0.10 (+1.15%)
Debt Financing / Related, Equity Investments, Mergers / Acquisitions

Ecochain, Inc. Announces Agreement To Acquire Soluna Computing, Inc., Adds 300 MW Pipeline Under Loi

Published: 08/12/2021 11:46 GMT
Mechanical Technology, Inc. (MKTY) - Ecochain, Inc. Announces Agreement to Acquire Soluna Computing, Inc., Adds 300 Mw Pipeline Under Loi.
Mechanical Technology Inc - Upon Closing of Transaction, Sci Will Become a Wholly Owned Subsidiary of Ecochain.
Mechanical Technology Inc - Upon Closing, Mti Acquires 300mw of Green Powered Computing Projects Under Loi With Costs Well Under $0.03 per Kwh.
Mechanical Technology Inc - Soluna Team is Joining Ecochain With John Belizaire As CEO of Combined Business Unit.
Mechanical Technology Inc - 92% of Total Consideration for Deal is Contingent Upon Projects Coming Online.
Mechanical Technology Inc - Co to Pay Sci $725,000 Cash at Closing.
Mechanical Technology Inc - As Part of Consideration, 150,000 Shares of Mti Common Stock Issued at Closing.
Mechanical Technology Inc - Up to 2.97 Million Shares of Mti Common Stock May Be Issued Based on Building Out an Additional 150mw.