Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 24

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 24
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31, 2024 and $56 thousand and $75 thousand within Other assets on the consolidated balance sheet as of
June 30, 2025 and December 31, 2024, of which approximately $16 thousand and $30 thousand has been amortized and recorded within Interest
Expense for the three and six months ended June 30, 2025.

Navitas
Term Loan

 Schedule of Navitas Term Loan

    (Dollars
    in thousands) 
    Maturity
    Date 
    Interest
    Rate  
    January
    1, 2025-  June 30, 2025  
    January
    1, 2024- December 31, 2024 
  
    Term
    Loan and capitalized interest (excludes debt issuance cost) 
    May
    9, 2025* 
     15% 
    $137  
    $1,707 
  
    Less:
    principal and capitalized interest payments 

     (137) 
     (1,570)
  
    Total
    outstanding debt 

    $-  
    $137 

    *
    May
    9, 2025 was the maturity date, however, as noted below, the Navitas loan was fully paid off in the first quarter of 2025, and as
    such no longer remains outstanding.

On
May 9, 2023, DVCC and Navitas West Texas Investments SPV, LLC entered into a 2-year Loan Agreement (“Navitas Term Loan”)
for $2,050,000. As of June 30, 2025, the Company has paid the remaining outstanding balance of $137 thousand, therefore fulfilling its
debt obligation with Navitas. Interest expense related to the Navitas Term Loan for the three and six months ended June 30, 2025 was
approximately $0 and $2 thousand, respectively. Interest expense related to the Navitas Term Loan for the three and six months ended
June 30, 2024 was approximately $37 thousand and $100 thousand, respectively.

    19

Convertible
Notes

On
October 25, 2021, pursuant to a Securities Purchase Agreement (the “October SPA”),
the Company issued to certain accredited investors (the “Noteholders”) (i) secured convertible notes in an aggregate principal
amount of $16.3 million for an aggregate purchase price of $