Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 3

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 3
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 meet the pricing
requirements under the Nasdaq Rules.

We are also offering pre-funded warrants (“Pre-Funded
Warrants”), to purchase up to an aggregate of shares of common stock to those
purchasers whose purchase of shares of common stock in this offering would result in the purchaser, together with its affiliates and certain
related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock following
the consummation of this offering in lieu of the shares of our common stock that would result in ownership in excess of 4.99% (or, at
the election of the purchaser, 9.99%). Each Pre-Funded Warrant will be exercisable for one share of common stock at an exercise price
of $0.001 per share. Each Pre-Funded Warrant is being issued together with the same Common Warrants described above being issued with
each share of common stock. The assumed combined public offering price for each such Pre-Funded Warrant, together with the Common Warrants,
is $ , which is equal to the closing price of our common stock on Nasdaq on , 2025, less the $0.001
per share exercise price of each such Pre-Funded Warrant. Each Pre-Funded Warrant will be exercisable upon issuance and will expire when
exercised in full. The Pre-Funded Warrants and Common Warrants are immediately separable and will be issued separately in this offering
but must be purchased together in this offering. For each Pre-Funded Warrant we sell, the number of shares of common stock we are offering
will be decreased on a one-for-one basis. This offering also relates to the shares of common stock issuable upon the exercise of the Pre-Funded
Warrants and the Common Warrants.

This offering will terminate on
, unless we decide to terminate the offering (which we may do at any time in our discretion) prior to that date. We will have one closing
for all the securities purchased in this offering. The combined public offering price per share (or Pre-Funded Warrant) and accompanying
Common Warrants will be fixed for the duration of this offering.

We have engaged (the
“placement agent”), to act as our exclusive placement agent in connection with this offering. The placement agent has agreed
to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent