Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 235

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 235
---
 an aggregate of (i) 8,794,544 shares of common stock (each a
“Share” and collectively, the “Shares”); (ii) pre-funded warrants (the “Pre-Funded Warrants”) to
purchase 296,365 shares of common stock; (iii) Series A warrants (the “Series A Warrants”) to purchase 9,090,909 shares of
common stock; and (iv) Series B warrants (the “Series B Warrants,” and together with the Series A Warrants, the “Common
Warrants”) to purchase 9,090,909 shares of common stock,.

Each
Share or Pre-Funded Warrant was sold together with one Series A Warrant to purchase one Share and one Series B Warrant to purchase one
Share. The combined public offering price for each Share (or Pre-Funded Warrant) and accompanying Common Warrants was $0.55. The Pre-Funded
Warrants have an exercise price of $0.001 per share, are exercisable immediately upon issuance and will expire when exercised in full.
Each Common Warrant has an exercise price of $0.55 per share and is exercisable immediately upon issuance. The Series A Warrants will
expire on the five-year anniversary of the initial exercise date and the Series B Warrants will expire on the twenty-four-month anniversary
of the initial exercise date.

The
net proceeds of the July 2025 Offering, after deducting the fees and expenses of the placement agent, and other offering expenses payable
by the Company, but excluding the net proceeds, if any, from the exercise of the Common Warrants, is approximately $4.3 million. The
July 2025 Offering closed on July 17, 2025. As of the date of these condensed financial statements, the Series A and B warrants have
been fully exercised raising an additional $10.0 million in gross proceeds.

50

Recent
Developments

Increase in Authorized Shares

On November 7, 2025, the Company held a Special
Meeting of Stockholders (the “Special Meeting”) at which, among other matters of business acted upon, the Company’s
stockholders approved an amendment to the Company’s Articles of Incorporation, as amended, to increase the Company’s authorized
shares of common stock from 75,000,000 shares to 375,000,000 shares (the “Certificate of Amendment”). On November 7, 2025,
the Company filed the