Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 186

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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 Series A and Series B Warrants Issued 

    Three
    and Nine Months ended September 30, 2025 

    Stock price 
    $0.60-
                                       3.50 

    Exercise price 
    $0.001-
                                       0.55 

    Expected term in years 
     1.79
                                            – 5.00 

    Expected dividend yield 
     0.00%

    Volatility 
     130.0
                                            – 140.0%

    Risk-free interest rate 
     3.51-
                                            3.99%

Reservation
of Shares

The
Company had reserved common shares for future issuance as follows as of September 30, 2025:

Schedule of Reserved Shares of Common Stock for Future Issuance

    Stock options outstanding 
     2,645 
  
    Restricted stock units outstanding 
     199,190 
  
    Warrants outstanding* 
     5,722,890 
  
    Series B Preferred Stock
    outstanding 
     1,250,000 
  
    Number of common shares reserved 
     7,174,725 

*The
Company noted that there are 7,722,890 warrants outstanding as of September 30, 2025. However, as noted in Note 8, on September 28, 2025,
the Company executed a side letter with the Holder in relation to the Generate Common Warrants
to waive a clause that requires the Company to reserve 2.0 million shares of common stock until there is an increase in the authorized shares
of the Company. Accordingly,  2.0 million warrants were not included in the reservation of common shares balance.

As
noted above in relation to the Series B Preferred Stock, as of September 30, 2025, the Series B Preferred Stock can be converted to 1,250,000
shares of the Company’s common stock at approximately $5.00 per share.

    27

*The
Company noted that there are 7,722,890 warrants outstanding as of September 30, 2025. However, as noted in Note 8, on September 28, 2025,
the Company executed a side letter with the Holder in relation to the Generate Common Warrants
to waive a clause that requires the Company to reserve 2.0 million shares of common stock until there is an increase in the authorized shares
of the Company.