Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 214

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 214
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 fulfill all obligations of the promissory notes that were issued in 2023.

Notes payable

On July 13, 2023, the Company entered into two note payable agreements for a total principal value of approximately $ 235thousand. The two note payable amounts had a 15% issue discount applied and a maturity date of April 15, 2024. The Company can prepay the notes by paying the full amount owed plus an additional 20%. On August 2, 2023 and August 25, 2023, the Company paid both outstanding note payable balances of approximately $ 235thousand plus a 20% prepayment fee of approximately $ 47thousand. With the prepayment of the notes payable, the Company incurred a $ 33thousand loss on debt extinguishment. As of the December 31, 2023, the Company has fulfilled the two note payable agreements.

NYDIG Financing

Schedule of Financing Debt

| (Dollars in thousands)                      
 NYDIG Loans #1-11                           |     | Maturity Dates                        
 April 25, 2023 thru January 25, 2027* |     | Interest Rate 
 12% thru 15%  |     | December 31, 
 2023         | 10,546 |   |     | December 31, 
 2022         | 14,387 |   |
|:--------------------------------------------|:----|:--------------------------------------|:----|:--------------|:----|:-------------|-------:|:--|:----|:-------------|-------:|:--|
| Less: principal payments                    |     |                                       |     |               |     |              |      — |   |     |              | (3,841 | ) |
| Less: repossession of collateralized assets |     |                                       |     |               |     |              | (1,363 | ) |     |              |      - |   |
| Total outstanding debt                      |     |                                       |     |               |     | $            |  9,183 |   |     | $            | 10,546 |   |

| * | Due                                                                             
 to event of default- the entire NYDIG Financing became current, see note below. |

On December 30, 2021, Soluna MC Borrowing 2021-1 LLC (the “Borrower”), an indirect wholly owned subsidiary of the Company entered into a Master Equipment Finance Agreement (the