Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 502

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 502
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, and (ii) a deposition
of a representative of the NYDIG Defendants occurred on January 23, 2025.

Additionally,
NYDIG has stated its intention to pursue the parent company of Guarantor (the “Parent Entity”) under a piercing of the corporate
veil theory relating to NYDIG Defendants’ debts and liabilities under the loan documents. Parent Entity intends to vigorously defend
itself from NYDIG’s parent company claims. Parent Entity denies any such liability and filed a complaint for a declaratory judgment
against NYDIG in the Eighth Judicial District Court in Clark County, Nevada on March 16, 2023, seeking a declaratory judgment as to such
matter. On June 22, 2023, the court issued an order granting NYDIG’s motion to dismiss without prejudice. Parent Entity intends
to continue to vigorously defend any allegations regarding liability on account of NYDIG Defendants’ debts and liabilities to NYDIG
under their loan documents.

Item
4: Mine Safety Disclosures

Not
applicable.

43

PART
II

Item
5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market
Information

Our
common stock is listed on the Nasdaq Capital Market under the trading symbol “SLNH.”

Holders

We
have one class of common stock, par value $0.001, and are authorized to issue 75,000,000 shares of common stock. Each share of our common
stock is entitled to one vote on all matters submitted to shareholders. As of December 31, 2024, there were 10,607,020 shares of common
stock issued and outstanding. As of March 21, 2025, there were approximately 119 shareholders of record of our common stock. The number
of shareholders of record does not reflect the number of persons whose shares are held in nominee or “street” name accounts
through brokers.

Dividends

As
of December 31, 2024, we had 4,953,545 shares of our Series A Preferred Stock outstanding, which pursuant to the Certificate of Designations,
Preferences and Rights of 9.0% Series A Cumulative Perpetual Preferred Stock, of the Company entitle such holders to monthly dividends,
when, as and if declared by our board of directors. Our board of directors had not declared any Series A Preferred Stock dividends beginning
October 2022 through December 31, 2023, as such the