Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 255

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 255
---
 - will create far more value
for Soluna and its shareholders.

In light of these developments, on March 24,
2025, CloudCo sent notice of its termination of the HPE Agreement for convenience. Subsequently, on March 26, 2025, HPE sent notice
of its termination of the HPE Agreement for cause, effective immediately, due to CloudCo’s material breach of its payment
obligations that remained uncured for more than thirty (30) days. In accordance with the terms of the HPE Agreement, upon a
termination for cause by HPE, CloudCo must pay HPE the remaining payment stream under the term of the HPE Agreement of approximately
$19.3
million as of March 31, 2025 (approximately $20.0 million as of December 31, 2024), including all upfront payments and monthly
charges, plus any fees incurred for the terminated Services (as defined in the HPE Agreement).

 F-46