Company: SLNH
Filing Date: 2025-04-18
Form Type: S-3
Source: 0001641172-25-005430
Chunk: 36

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: S-3
Chunk 36
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 terms of any standby underwriting or purchase arrangement which may be entered into by us in connection with the offering of subscription 
 rights.                                                                                                                                   |

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<div align='center'>DESCRIPTION OF UNITS</div>

We may issue units comprised of one or more of the other securities described in this prospectus in any combination. Each unit will be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit will have the rights and obligations of a holder of each included security (but, to the extent convertible securities are included in the units, the holder of the units will be deemed the holder of the convertible securities and not the holder of the underlying securities). The unit agreement under which a unit is issued, if any, may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date. The applicable prospectus supplement may describe:

| ● | the designation and terms                                                                                                            
 of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held 
 or transferred separately;                                                                                                           |
| ● | any provisions for the                                                                                                               
 issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units;                          |
| ● | the terms of                                                                                                                         
 the unit agreement governing the units;                                                                                              |
| ● | United States                                                                                                                        
 federal income tax considerations relevant to the units; and                                                                         |
| ● | whether the                                                                                                                          
 units will be issued in fully registered global form                                                                                 |

This summary of certain general terms of units and any summary description of units in the applicable prospectus supplement do not purport to be complete and are qualified in their entirety by reference to all provisions of the applicable unit agreement and, if applicable, collateral arrangements and depositary arrangements relating to such units. The forms of the unit agreements and other documents relating to a particular issue of units will be filed with the SEC each time we issue units, and you should read those documents for provisions that may be important to you.

| 25 |

<div align='center'>FORMS OF SECURITIES</div>

Each debt security and, to the extent applicable, warrant, subscription right and unit, will be represented either by a certificate issued in definitive form to a particular investor or by one or more global securities representing the entire issuance of securities. Certificated securities in definitive form and global securities will be issued in registered form