Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 287

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 287
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, 2027* |     | Interest Rate 
 12% thru 15%  |     | January 1, 2024 -  
 September 30, 2024 | 9,183 |     | January 1, 2023 - 
 December 31, 2023 | 10,546 |   |
|:--------------------------------------------|:----|:--------------------------------------|:----|:--------------|:----|:-------------------|------:|:----|:------------------|-------:|:--|
| Less: repossession of collateralized assets |     |                                       |     |               |     |                    |     — |     |                   | (1,363 | ) |
| Total outstanding debt                      |     |                                       |     |               |     | $                  | 9,183 |     | $                 |  9,183 |   |

| * | Due                                                                             
 to event of default- the entire NYDIG Financing became current, see note below. |

On December 30, 2021, Soluna MC Borrowing 2021-1 LLC (the “Borrower”), an indirect wholly owned subsidiary of the Company entered into a Master Equipment Finance Agreement (the “Master Agreement”) with NYDIG ABL LLC (“NYDIG”) as lender, servicer and collateral agent (the “NYDIG facility”). The Master Agreement outlined the framework for a financing up to approximately $ 14.4million in aggregate equipment financing. Subsequently, the parties negotiated the specific terms of each equipment financing transaction as well as the terms upon which the Noteholders would consent to the transactions contemplated by the Master Agreement.

On January 14, 2022, the Borrower effected an initial drawdown under the Master Agreement in the aggregate principal amount of approximately $ 4.6million that bore interest at 14% and was to be repaid over 24 months. On January 26, 2022, the Borrower had a subsequent drawdown of $ 9.8million. As part of the transactions contemplated under the Master Agreement, (i) the Company’s indirect wholly owned subsidiary, Soluna MC LLC, formerly EcoChain Block LLC (“Guarantor”), which is the owner of 100% of the equity interests of Borrower, executed a Guaranty Agreement in favor of NYDIG, as lender, dated as of December 30, 2021 (the “Guaranty Agreement”), (ii) Borrower has granted a lien