Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 70

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 entered into an At the Market Offering Agreement (the “Agreement”) with H.C. Wainwright &
Co., LLC (“Wainwright”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Wainwright,
up to $3.75
million of shares of common stock. The Company will pay Wainwright a commission
of 3.0% of the aggregate gross proceeds from each sale of shares and has agreed to provide Wainwright with customary indemnification
and contribution rights.

Notice of Failure to Satisfy a Continued Listing Rule or Standard- Nasdaq Minimum Bid Price Rule

On May 8, 2025, the Company
received written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) that the closing bid price
for the Company’s common stock had been below $1.00 per share for the previous 30 consecutive business days, and that the Company
is therefore not in compliance with the minimum bid price requirement for continued listing on the Nasdaq Capital Market as set forth
in Nasdaq Listing Rule 5550(a)(2).

The Notice has no immediate
effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.

In accordance with the
Nasdaq Listing Rule 5810(c)(3)(A), the Company has a period of 180 calendar days, or until November 4, 2025, to regain compliance with
the minimum bid price requirement. To regain compliance, the closing bid price of the Company’s common stock must meet or exceed
$1.00 per share for a minimum of ten consecutive business days during this 180-day period.

35

Item 2. Management’s Discussion and Analysis of Financial Condition
and Results of Operations

Unless the context requires otherwise in these
condensed consolidated financial statements, the terms “SHI,” “Soluna,” the “Company,” “we,”
“us,” and “our” refer to Soluna Holdings, Inc. together with its consolidated subsidiaries, “SDI”
refers to Soluna Digital, Inc. “SCI” refers to Soluna Computing, Inc., formerly known as EcoChain, Inc., “Soluna Cloud”
or “Cloud” refer to Soluna Cloud, Inc., and “SEI” refers to Soluna Energy, Inc. Other trademarks, trade names,
and service marks used in this Quarterly Report on Form 10-Q are the property of their respective owners