Company: SLNH
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001641172-25-006194
Chunk: 1

Company: Soluna Holdings, Inc
Filing Date: 2025-04-25
Form: 424B3
Chunk 1
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 Agreement (the “Release Agreement”) whereby the parties agreed
to terminate all prior agreements with respect to investment banking and placement agency services offered by Univest to the Company.
Under the Release Agreement, the Company agreed to issue Univest $1,000,000 of shares of Common Stock and to include such shares in the
Company’s next registration statement. The number of shares issued was calculated based on the five-day volume weighted average
price (“VWAP”) ending October 1, 2024. The Release Shares were issued in a private placement exempt from registration pursuant
to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the Release Agreement, the
shares were issued to settle all financial matters between the Company and Univest, including any payment obligations that the Company
had towards Univest in connection with the services that Univest provided, in exchange for a mutual release. Also under the Release Agreement,
Univest agreed, during the period commencing on the day such registration statement is declared effective by the SEC and continuing until
the earlier of (x) the date of termination of such period as elected by the Company and (y) the three month anniversary thereof (such
period, the “Leak-Out Period”) to not sell such shares in excess of 1/3 of the shares of Common Stock beneficially owned by
Univest and its affiliates on the day immediately prior to the first day of the Leak-Out Period.

Under the SEPA, shares of Common Stock may be issued
and sold to the Investor under one of two pricing options, at the election of the Company. Under the first option (“Pricing Option
1”), the Company will sell the shares of Common Stock to the Investor at 96% of the Market Price (as defined below) for any period
commencing (i) if submitted to the Investor prior to 9:00 a.m. Eastern Time on a trading day, at the open of trading on such day or (ii)
if submitted to the Investor after 9:00 a.m. Eastern Time on a trading day, upon receipt by the Company of written confirmation of acceptance
of the advance notice by the Investor and, in either case, ending at 4:00 p.m. New York City time on the applicable advance notice date
(the “Option 1 Pricing Period”). Under the second option (“Pricing Option 2”), the Company will sell the shares
of Common