Company: SLNH
Filing Date: 2025-10-27
Form Type: S-1
Source: 0001493152-25-019770
Chunk: 32

Company: Soluna Holdings, Inc
Filing Date: 2025-10-27
Form: S-1
Chunk 32
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 such offering. Pursuant to the Placement Agency Agreement, we agreed to pay Univest 431,014 restricted shares of common stock in relation to Univest’s role in the underwritten offering that closed on October 26, 2022 (the “October Shares”). The October Shares were issued without registration under the Securities Act, in reliance on the exemptions from registration provided by Section 4(a)(2) under the Securities Act.

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On May 23, 2023, we entered into a Subscription and Investment Representation Agreement with David Michaels, our Secretary (the “Subscriber”), and sold to the Subscriber one share of our Series X Preferred Stock, par value $0.001 per share (the “Series X Preferred Stock”). The offering and sale of the Series X Preferred Stock was exempt from registration under Section 4(a)(2) of the Securities Act.

On July 28, 2023, we paid a mandatory dividend on our outstanding Series B Preferred Stock in the amount of $657,223.64. Pursuant to a Dividend Payment Agreement, we and the holder of the Series B Preferred Stock agreed to satisfy the payment of the dividend through the issuance of 44,000 shares of our common stock and 70,300 pre-funded warrants. The issuance of the common stock and the pre-funded warrants was exempt from registration under Section 4(a)(2) of the Securities Act.

On June 20, 2024, pursuant to the terms and subject to the conditions of the SPA by and among the Note Parties, CloudCo issued the Note to the Selling Stockholder. As further inducement for the Selling Stockholder to purchase the Note, Soluna Cloud issued to the Selling Stockholder a warrant (the “June Warrant”) exercisable for a number of shares of common stock of Soluna Cloud equal to the sum of (a) 12.5% of Soluna Cloud’s issued and outstanding common stock as of the date of the June Warrant divided by 0.875, plus (b) 12.5% of each Qualified Issuance (as defined below) divided by 0.875. For purposes of the June Warrant, “Qualified Issuance” means (y) each issuance of common stock of Soluna Cloud during the period commencing on the day after the date of the June Warrant and ending on the earlier to occur of (i) the conclusion of up to an additional $112,500,000 of capital raised, whether in