Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 34

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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 relation to the Series B Preferred Stock through
December 31, 2024 and an additional $170 thousand and $335 thousand for the three and six months ended June 30, 2025, for a total of
approximately $1.3 million. The dividends in arrears are included in the calculation of net loss per share as discussed below.

    23

Standby
Equity Purchase Agreement

On
August 12, 2024, the Company entered into the SEPA with YA. Pursuant to the terms of the SEPA, the Company agreed to issue and sell to
YA, from time to time, and YA agreed to purchase from the Company, up to $25 million of shares of the Company’s common stock (the
“SEPA Shares”). The Company paid a commitment fee of approximately $250 thousand to YA and consent fee of $25 thousand to
the holder of shares of Series B Preferred Stock, which was paid through the issuance of 65,320 shares of common stock. The commitment
and consent fees were recorded within Other expense, net on the Company’s consolidated financial statements for the year ended
December 31, 2024. The Company and YA also entered into a 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. During the six months ended June 30, 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.

ATM
Agreement

On
April 29, 2025, the Company entered into the ATM Agreement” with Wainwright, as sales agent, pursuant to which the Company may
offer and sell, from time to time, through Wainwright, up to $3.75 million of shares of common stock. The Company will pay Wainwright
a commission of 3.0% of the aggregate gross proceeds from each sale of shares and has agreed to provide Wainwright with customary indemnification