Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 29

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 29
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 the Company. To the extent that the Company issues additional shares of common stock, the
relative interest in the Company of existing stockholders will likely be diluted.

Anti-Takeover Effects of Certain Provisions of Our Articles of Incorporation and Bylaws, and Nevada Law

Our Articles of Incorporation
and Bylaws contain provisions and terms that may delay, defer, or prevent a tender offer or change in control of the Company that a stockholder
might consider to be in his, her, or its best interests, including attempts that might result in a premium being paid over the market
price for shares of our Common Stock. The Company expects that such provisions and terms may have the effect of discouraging extraordinary
corporate transactions with respect to the Company, such as hostile takeover bids, and will instead encourage any potential acquiror of
the Company to first correspond with our Board. These provisions and terms include:

| ● | Special meetings of stockholders may only be called by the by the chairman of the board or the chief executive officer, or, if there be no chairman of the board and no chief executive officer, by the president, and shall be called by the secretary upon the written request of at least a majority of the Board or the holders of not less than a majority of the voting power of the Company’s stock entitled to vote. |
| ● | The Company maintains a classified Board that is divided into three classes serving for respective three-year terms. As a result, it would take at least two successive annual meetings of shareholders to replace a majority of the members of our Board.                                                                                                                                                                   |
| ● | Vacancies on the Board may be filled by majority vote of remaining directors then in office, even if less than a quorum, with the individual elected to serve for the remainder of the unexpired term.                                                                                                                                                                                                                       |
| ● | Any director of the Company may be removed from service as a director only after the affirmative vote of 75% or more of outstanding shares of stock entitled to vote for the election of directors, at a meeting called for that purpose.                                                                                                                                                                                    |

Nevada’s “combinations with interested
stockholders” statutes, NRS 78.411 through 78.444, inclusive, prohibit specified types of business “combinations” between
certain Nevada corporations and any person deemed to be an “interested stockholder” for two years after such person first
becomes an “interested stockholder” unless the corporation’s board of directors approves the combination (or the transaction
by