Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 260

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 260
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 the date of this Agreement per each extension.

In consideration of the foregoing, the Company will:

| ● | Reduce                                                
 the conversion price of the Notes to $3.78 per share; |

| ● | The                                                                                      
 Purchasers will receive an aggregate of 850,000 three year warrants exercisable at $0.01 
 per share;                                                                               |

| ● | An                                                                                        
 aggregate of 320,005 warrants held by the Purchasers will have the exercise price reduced 
 to $3.78 per share (the “$3.78 Warrants”);                                                |

| ● | An                                                                                         
 aggregate of 478,951 warrants held by the Purchasers will have the exercise price reduced  
 to $6.00 per share (the “Repriced Warrants”). For every one Repriced Warrant               
 exercised by a Purchaser, such Purchaser shall receive 1.36 new five year warrants with an 
 exercise price of $0.01, 1.6 new five year warrants with an exercise price of $4.20, and   
 1.6 new five year warrants with an exercise price of $5.70.                                |

Pursuant to additional agreements with holders of another 51,618outstanding warrants, similar adjustments with those warrants, resulting in a total adjustment to 530,569warrants.

Because the foregoing will result in the issuance of more than 20% of the Company’s outstanding shares, the foregoing is subject to stockholder approval at the Company’s annual meeting of shareholders, to be held not later than May 30, 2024. Until such shareholder approval is obtained, the Company may not prepay any amount of the Notes which would reduce the aggregate principal amount thereof below $ 5million.

| F-50 |

<div align='center'>Soluna Holdings, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

As of September 30, 2024 (Unaudited) and December 31, 2023</div>

|                                                                                                                                      | (Dollars in thousands, except 
 per share)                    |   | September 
  30, 2024 |   |     |   | December 
 31, 2023 |   |
|:-------------------------------------------------------------------------------------------------------------------------------------|:------------------------------|:--|----------:|:--|:----|:--|---------:|:--|
| Assets                                                                                                                               |                               |   |           |   |     |   |          |   |
| Current