Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 285

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 285
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 and to date, we have not identified any material issues. Most of our sites have historically been farmland or similar low-risk
uses. While these assessments do not include full subsurface testing or asbestos surveys, no significant concerns have been found.

We may also be subject to permitting requirements, including for air quality
when installing backup diesel generators, or for water usage in certain markets. Climate-related risks—such as droughts, flooding,
or regulations around energy efficiency—may increase over time and could affect data center development or operations. However,
at present, we have not encountered any significant environmental obstacles.

Provisions in our Articles
(as defined below), our Bylaws (as defined below), and Nevada law may discourage a takeover attempt even if a takeover might be beneficial
to our stockholders.

Provisions contained in our
Articles of Incorporation (as amended, the “Articles”) and our Bylaws (the “Bylaws”) could make it more difficult
for a third party to acquire us if we have become a publicly traded company. Provisions of our Articles and Bylaws impose various procedural
and other requirements, which could make it more difficult for stockholders to effect certain corporate actions. For example, our Articles
authorize our Board to determine the rights, preferences, privileges, and restrictions of unissued series of preferred stock without any
vote or action by our stockholders. Thus, our Board can authorize and issue shares of preferred stock with voting or conversion rights
that could adversely affect the voting or other rights of holders of our other series of capital stock. These rights may have the effect
of delaying or deterring a change of control of our company. Additionally, our Bylaws establish limitations on the removal of directors
and on the ability of our stockholders to call special meetings.

For a more complete understanding
of these provisions, please refer to the Nevada Revised Statutes (“NRS”) and our Articles and Bylaws filed with the SEC. Though
we are not currently, in the future we may become subject to Nevada’s control share law. A corporation is subject to Nevada’s
control share law if it has more than 200 stockholders, at least 100 of whom are stockholders of record and residents of Nevada, and it
does business in Nevada or through an affiliated corporation. The law focuses on the acquisition of a “controlling interest”
which means the ownership of outstanding voting shares sufficient, but for the control share law, to enable the acquiring person to exercise
the following proportions of the voting power of