Company: SLNH
Filing Date: 2025-07-09
Form Type: PRE 14A
Source: 0001641172-25-018420
Chunk: 39

Company: Soluna Holdings, Inc
Filing Date: 2025-07-09
Form: PRE 14A
Chunk 39
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 price of our common stock meets the continued listing requirements of the Nasdaq Capital Market. Our Board intends to effect the Reverse Stock Split only if it believes that a decrease in the number of shares outstanding is in our and our stockholders’ best interests and is likely to improve the trading price of the shares of our common stock and improve the likelihood that we will be allowed to maintain our continued listing on the Nasdaq Capital Market. However, our Board may determine to effect one or more Reverse Stock Splits even if the trading price of our common stock is at or above $1.00 per share (or above the Low Price Requirement, in the event the closing bid price of common stock falls below the Low Price Requirement).

Board Discretion to Implement the Reverse Stock Split

Our Board believes that stockholder approval of an aggregate range of Reverse Stock Split ratios (rather than a single split ratio) and one or more Reverse Stock Splits is in the best interests of our stockholders because it provides our Board with the flexibility to achieve the desired results of one or more Reverse Stock Splits and because it is not possible to predict market conditions at the time any Reverse Stock Split would be implemented. If stockholders approve this proposal, our Board would carry out a Reverse Stock Split only upon our Board’s determination that a Reverse Stock Split would be in the best interests of the Company and our stockholders at that time. Our Board would then set the ratio for the Reverse Stock Split within the aggregate range approved by stockholders and in an amount it determines is advisable and in the best interests of the stockholders considering relevant market conditions at the time the Reverse Stock Split is to be implemented. In determining the Reverse Stock Split ratio, following receipt of stockholder approval, our board of the directors may consider numerous factors including:

| ● | the                                                                                                                              
 historical and projected performance of our common stock;                                                                        |
| ● | general                                                                                                                          
 economic and other related conditions prevailing in our industry and in the marketplace;                                         |
| ● | the                                                                                                                              
 projected impact of the Reverse Stock Split ratio on trading liquidity in our common stock and our ability to maintain continued 
 listing on the Nasdaq Capital Market;                                                                                            |
| ● | our                                                                                                                              
 capitalization (including the number of shares of our common stock issued and outstanding);                                      |
| ● | the                                                                                                                              
 then-prevailing trading price for our common stock and the volume level thereof; and                                             |
| ● | the                                                                                                                              
 potential devaluation of our market capitalization as a result of the Reverse Stock