Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 769

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 769
---
100% upon the reporting person’s
    separation from the Company.

    (13)
    Includes
warrants to purchase 60,000 shares of Common Stock that are exercisable within 60 days of March 20, 2025, warrants to purchase 140,000
shares of Common Stock that are exercisable within 60 days of March 20, 2025, and 1,250,000 shares of Common Stock underlying 62,500
shares of Series B Preferred Stock which are subject to a 4.99% beneficial ownership blocker and may be converted within 60 days of March
20, 2025. The number of shares listed in the first column assumes the full conversion of the shares of Series B Preferred Stock without
regard to any limitations on exercise, but the percentage set forth in the second column is limited by the 4.99% beneficial ownership
blocker.

77

Item
13. Certain Relationships and Related Transactions, and Director Independence 

The
following is a description of transactions since January 1, 2023, and each currently proposed transaction in which:

  ●
  We have been or are to be a participant;

  ●
  the amount involved exceeded or will exceed the lesser of $120,000 or 1% of our total assets at year-end for our last two completed fiscal
years; and

  ●
  any of our directors, executive officers or beneficial owners of more than 5% of our capital stock, or any immediate family member of,
or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest, other
than compensation and other arrangements that are described in the section titled “Executive Compensation.”

MeOH
Power, Inc.

On
December 18, 2013, MeOH Power, Inc. (“MeOH”) and the Company executed a Senior Demand Promissory Note (the “Note”)
in the amount of $380 thousand to secure the intercompany amounts due to the Company from MeOH upon the deconsolidation of MeOH. Interest
accrues on the Note at the Prime Rate in effect on the first business day of the month, as published in the Wall Street Journal. At the
Company’s option, all or part of the principal and interest due on this Note may be converted to shares of common stock of MeOH
at a rate of $0.07 per share. Interest began accruing on January 1