Company: SLNH
Filing Date: 2025-04-29
Form Type: 424B5
Source: 0001641172-25-006672
Chunk: 18

Company: Soluna Holdings, Inc
Filing Date: 2025-04-29
Form: 424B5
Chunk 18
---
2025. Pursuant to General Instruction I.B.6 of Form S-3, in no event will we sell securities pursuant to this prospectus with a value of more than one-third of the aggregate market value of our common stock held by non-affiliates in any 12-month period, so long as the aggregate market value of our common stock held by non-affiliates is less than $75,000,000. During the 12 calendar months prior to, and including, the date of this prospectus, we have not sold any securities pursuant to General Instruction I.B.6 of Form S-3.

Investing in our securities involves risk. You should carefully consider the risks that we refer you to under the section captioned“ Risk Factors” in this prospectus on page 8 and in other filings we make with the Securities and Exchange Commission before buying our securities.

Should we offer any of the securities described in this prospectus, we will provide you with the specific terms of the particular securities being offered in a supplement to this prospectus. You should read this prospectus and any supplement, together with additional information described under the headings “Additional Information” and “Incorporation of Certain Information by Reference” carefully before you invest. This prospectus may not be used to sell securities unless accompanied by a prospectus supplement.

We may sell these securities directly to our stockholders or to other purchasers or through agents on our behalf or through underwriters or dealers as designated from time to time. If any agents or underwriters are involved in the sale of any of these securities, the applicable prospectus supplement will provide the names of the agents or underwriters and any applicable fees, commissions or discounts.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>The date of this prospectus is April 29, 2025.</div>

<div align='center'>TABLE OF CONTENTS</div>

| ABOUT THIS PROSPECTUS                                |  1 |
| PROSPECTUS SUMMARY                                   |  2 |
| RISK FACTORS                                         |  8 |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS |  9 |
| USE OF PROCEEDS                                      | 10 |
| THE SECURITIES WE MAY OFFER                          | 11 |
| DESCRIPTION OF CAPITAL STOCK                         | 12 |
| DESCRIPTION OF WARRANT