Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 40

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 40
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 effect of delaying
or preventing a change in our control. In addition, the rights of holders of Common Stock will be subject to, and may be adversely affected
by, the rights of holders of any Preferred Stock that we have issued or may issue in the future.

Rank. Unless our Board
of Directors otherwise determines and we so specify in the applicable prospectus supplement, we expect that the shares of Preferred Stock
will, with respect to distribution rights and rights upon liquidation, dissolution or winding up of our affairs, rank senior to all our
Common Stock.

Distributions. Holders
of Preferred Stock of each class or series will be entitled to receive cash and/or share distributions at the rates and on the dates shown
in the applicable prospectus supplement. We will pay each distribution to holders of record as they appear on our stock transfer books
on the record dates fixed by our Board of Directors.

We will not authorize or pay any distributions on
a class or series of Preferred Stock or set aside funds for the payment of distributions if restricted or prohibited by law, or if the
terms of any of our agreements, including agreements relating to our indebtedness or our other classes or series of Preferred Stock, prohibit
that authorization, payment or setting aside of funds or provide that the authorization, payment or setting aside of funds is a breach
of or a default under that agreement. We are now, and may in the future become, a party to agreements which restrict or prevent the payment
of distributions on, or the purchase or redemption of, our shares of capital stock, including Preferred Stock. These restrictions may
be indirect, such as covenants which require us to maintain specified levels of net worth or assets.

Distributions on any class or series of Preferred
Stock may be cumulative, noncumulative or partially cumulative, as specified in the applicable prospectus supplement. Cumulative distributions
will be cumulative from and after the date shown in the applicable prospectus supplement. If our Board of Directors fails to authorize
a distribution that is noncumulative, the holders of the applicable class or series will have no right to receive, and we will have no
obligation to pay, a distribution in respect of the applicable distribution period, whether or not distributions on that class or series
are declared payable in the future.

We refer to our shares of Common shares or other stock,
now or hereafter issued, that rank junior to an applicable class or series of Preferred Stock with respect to distribution rights as junior
stock. To the extent