Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 26

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 26
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versions
    of debt (April 1, 2024- June 30, 2024) 
     (2,689)
  
    Revaluation
    losses and extinguishment of debt, net (April 1, 2024- June 30, 2024) 
     3,999 
  
    Extension
    fee 
     325 
  
    Balance
    June 30, 2024 
     7,851 
  
    Conversions
    of debt (July 1, 2024- December 31, 2024) 
     (5,289)
  
    Revaluation
    gains and extinguishment of debt, net (July 1, 2024- December 31, 2024) 
     (2,562)
  
    Balance
    December 31, 2024 
    $- 

For
the three and six months ended June 30, 2024, the Company had approximately $2.7 million and $3.7 million of note conversions with the
Noteholders, approximately $4.0 million and $2.8 million in revaluation losses, net in relation to fair value assessments of the convertible
debt, and a 4% note extension in June 2024 increasing the note balance by approximately $325 thousand. As of June 30, 2024, the Company
had a fair value outstanding balance of approximately $7.9 million and a principal outstanding value of approximately $5.3 million. In
addition, from July 1, 2024 through December 31, 2024, there were approximately $5.3 million of note conversions with the Noteholders,
and the Company incurred a revaluation gain of debt of approximately $2.6 million, and, as of December 31, 2024, the Convertible Notes
were no longer outstanding.

The
following table represents the significant and subjective fair value assumptions used for Convertible Notes during the year ended December
31, 2024. As the Convertible Notes were fully converted in fiscal year 2024, no assumptions were noted for the three and six months ended
June 30, 2025.

 Schedule of Fair Value Assumptions For Convertible Notes

    Year
    Ended December 31, 2024

    Stock
    price
     $
    2.88
    – 6.09

    Conversion