Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1488

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1488
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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 Company has accumulated approximately $8.6 million of dividends in arrears on the
Series A Preferred Stock through December 31, 2023, and an additional $9.9 million of dividends in arrears for the year ended December
31, 2024, for a total of approximately $18.5 million.

Our
Series B Preferred Stock included a 10% accruing dividend compounded daily for 12 months from the original issue date of July 20, 2022,
and annually thereafter, that may be paid in cash or stock at the Company’s option at the earlier of (i) the date the Series B
Preferred Stock is converted, or (ii) the Series B Dividend Termination Date (as defined in the Certificate of Designation of the Series
B Preferred Stock). Effective October 1, 2024, the dividend payment obligation has been modified to be annual. The amendment resulted
in annual dividend payments going forward. As a result of the amendment, we would be obligated to make annual dividend payments for the
period starting from July 2023 as per the Series B Preferred Consent and Waiver, however, the board of directors