Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 299

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 299
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 11,907outstanding restricted stock units, and 1,230,130outstanding warrants not exercised. These potentially dilutive items were excluded because the calculation of incremental shares resulted in an anti-dilutive effect.

9. Commitments and Contingencies

Commitments:

Leases

The Company determines whether an arrangement is a lease at inception. The Company and its subsidiaries have operating leases for certain mining and hosting facilities, office facilities and certain equipment. The leases have remaining lease terms under one year to less than ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of September 30, 2024 and December 31, 2023, the Company has no assets recorded under finance leases.

Lease expense for these leases is recognized on a straight-line basis over the lease term. For the three and nine months ended September 30, total lease costs are comprised of the following:

Schedule of Lease Expense Recognized on Straight-line Basis Over Lease Term

| (Dollars in thousands) |     | Three Months Ended September 30, 
 2024                             | 2024 |     | 2023 | 2023 |     | Nine Months Ended September 30, 
 2024                            | 2024 |     | 2023 | 2023 |
|:-----------------------|:----|:---------------------------------|-----:|:----|:-----|-----:|:----|:--------------------------------|-----:|:----|:-----|-----:|
| Operating lease cost   |     | $                                |   17 |     | $    |   61 |     | $                               |  139 |     | $    |  177 |
| Short-term lease cost  |     |                                  |    — |     |      |    — |     |                                 |    — |     |      |    — |
| Total net lease cost   |     | $                                |   17 |     | $    |   61 |     | $                               |  139 |     | $    |  177 |

Short-term leases are leases having a term of twelve months or less. The Company recognizes short-term leases on a straight-line basis and does not record a related lease asset or liability for such leases.

Other information related to leases was as follows:

Schedule of Other Information Related to Leases

|                                                   |     | Nine Months Ended September 30, 2024 |      |   |