Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 5

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 5
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 high degree of risk. See “Risk Factors” beginning on page 9 of this prospectus
for a discussion of information that should be considered in connection with an investment in our securities. See “Prospectus Summary—Implications
of Being a Smaller Reporting Company.”

Investing in our securities involves a high degree of risk. See the section titled “Risk Factors” beginning on page 9 of this prospectus and in the documents incorporated by reference into this prospectus for a discussion of risks that should be considered in connection with an investment in our securities.

|                                     |     | Per Share and Accompanying Common Warrants |     | Per Pre-Funded Warrant and Accompanying Common Warrants |     | Total |
|:------------------------------------|:----|:-------------------------------------------|:----|:--------------------------------------------------------|:----|:------|
| Public offering price               |     | $                                          |     | $                                                       |     | $     |
| Placement Agent Fees (1)            |     | $                                          |     | $                                                       |     | $     |
| Proceeds to us, before expenses (2) |     | $                                          |     | $                                                       |     | $     |

| (1) | We have agreed to pay the placement agent a total cash fee equal to 7.0% of the gross proceeds raised in this offering. We have also agreed to reimburse the placement agent for its legal fees and expenses and other out-of-pocket expenses in an amount up to $125,000 and for its clearing expenses in the amount of up to $15,950. In addition, we have agreed to issue the placement agent or its designees warrants to purchase a number of shares of common stock equal to 5.0% of the shares of common stock sold in this offering (including the shares of common stock issuable upon the exercise of the Pre-Funded Warrants), at an exercise price of $     per share, which represents 125% of the public offering price per share and accompanying Common Warrants. The registration statement of which this prospectus forms a part also registers the offer and sale of these placement agent warrants and the shares of common stock issuable upon exercise of these placement agent warrants. For a description of compensation to be received by the placement agent, see “Plan of Distribution” for more information. |
| (2) | Because there is no minimum number of securities or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent