Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 34

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 34
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 each share
of our common stock that would have been issuable upon such exercise immediately prior to the occurrence of such fundamental transaction,
the number of shares of common stock of the successor or acquiring corporation or of our company, if it is the surviving corporation,
and any additional consideration receivable upon or as a result of such transaction by a holder of the number of shares of our common
stock for which the Common Warrant is exercisable immediately prior to such event. Notwithstanding the foregoing, in the event of a fundamental
transaction, the holders of the Common Warrants have the right to require us or a successor entity to redeem the Common Warrants for cash
in the amount of the Black-Scholes Value (as defined in the Common Warrants) of the remaining unexercised portion of the Common Warrants
on the date of the consummation of such fundamental transaction, concurrently with or within 30 days following the consummation of a fundamental
transaction.

However, in the event of a fundamental transaction
which is not in our control, including a fundamental transaction not approved by our board of directors, the holders of the Common Warrants
will only be entitled to receive from us or our successor entity, as of the date of consummation of such fundamental transaction the same
type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of the Common Warrant
that is being offered and paid to the holders of our common stock in connection with the fundamental transaction, whether that consideration
is in the form of cash, stock or any combination of cash and stock, or whether the holders of our common stock are given the choice to
receive alternative forms of consideration in connection with the fundamental transaction.

Transferability. Subject to applicable
laws, the Common Warrants may be transferred at the option of the holder upon surrender of the Common Warrants to us together with the
appropriate instruments of transfer.

Fractional Shares. No fractional shares
of common stock will be issued upon the exercise of the Common Warrants. Rather, the number of shares of common stock to be issued will,
at our election, either be rounded up to the nearest whole number or we will pay a cash adjustment in respect of such final fraction in
an amount equal to such fraction multiplied by the exercise price.

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Trading Market. There is no established
trading market for the Common Warrants, and we do not expect an active trading market to develop. We do not