Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 40

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 registration
rights agreement, pursuant to which the Company agreed to prepare and file with the SEC a Registration Statement on Form S-1, registering
the resale of the SEPA Shares. On November 12, 2024, the Company filed a registration statement on Form S-1 (File No. 333-282559) with
the SEC for the resale by YA of 3,000,000 SEPA Shares, which was declared effective by the SEC on February 5, 2025. As of March 31, 2025,
the Company has issued and sold approximately 1.5 million shares of common stock to YA pursuant to the SEPA for aggregate net proceeds
to the Company of approximately $2.0 million.

Reservation of Shares

The Company had reserved common shares for future
issuance as follows as of March 31, 2025:

Schedule of Reserved Shares of Common Stock for Future Issuance

    Stock options outstanding 
     2,645 
  
    Restricted stock units outstanding 
     206,880 
  
    Warrants outstanding 
     2,407,134 
  
    Shares to be isssued for June SPA Modification 
     1,000,000 
  
    Common stock available for future equity awards or issuance of options 
     2,711,573 
  
    Number of common shares reserved 
     6,328,232 

The Company also notes that as of March 31, 2025,
there are 14,888 Series A preferred stock available for future equity awards under the 2021 Plan.

Loss per Share

The Company computes basic loss per common share by
dividing net loss by the weighted average number of common shares outstanding during the reporting period. Diluted loss per share reflects
the potential dilution, if any, computed by dividing loss by the combination of dilutive common share equivalents, comprised of shares
issuable under outstanding investment rights, warrants and the Company’s share-based compensation plans, and the weighted average
number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money
stock options, which are calculated based on the average share price for each period using the treasury stock method. Under the treasury
stock method, the exercise price of a stock option and the amount of compensation cost, if any, for future service that the Company has
not yet recognized are assumed to be used to repurchase shares in the current period.

The following