Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 99

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 net on the Company’s consolidated financial statements for the year ended
December 31, 2024. The Company and YA also entered into a registration rights agreement, pursuant to which the Company agreed to prepare
and file with the SEC a Registration Statement on Form S-1, registering the resale of the SEPA Shares. On November 12, 2024, the Company
filed a registration statement on Form S-1 (File No. 333-282559) with the SEC for the resale by YA of 3,000,000 SEPA Shares, which was
declared effective by the SEC on February 5, 2025. During the three and nine months ended September 30, 2025, the Company has issued
and sold approximately 1.5 million and 3.0 million shares of common stock to YA pursuant to the SEPA for aggregate net proceeds to the
Company of approximately $4.2 million and $6.2 million.

ATM
Agreement

On
April 29, 2025, the Company entered into an At the Market Offering Agreement (the “ATM 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. An additional prospectus
supplement was filed on September 2, 2025, in which the Company may offer and sell shares of our common stock having an aggregate offering
price of up to $8,585,280 from time to time through Wainwright, and an additional prospectus supplement was filed on September 23, 2025,
in which the Company may offer and sell shares of our common stock having an aggregate offering price up to $87,650,000 from time to
time through Wainwright.

During the three and nine
months ended September 30, 2025, the Company sold 14,649,141 and 17,989,804 shares of common stock pursuant to the ATM Agreement for
net proceeds of $20.8 million and $23.0 million after deducting sales agent commissions. The Company has sold an additional 2,690,