Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 16

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 16
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, decree, writ, ruling or injunction by any court or governmental authority of competent 
 jurisdiction which prohibits the consummation of or that would materially modify or delay any of the transactions contemplated by 
 the SEPA or the Registration Rights Agreement;                                                                                    |

| ● | trading                                                                                                                                       
 in the Common Stock will not have been suspended by the SEC, Nasdaq or FINRA, the Company will not have received any final and non-appealable 
 notice that the listing or quotation of the Common Stock on Nasdaq will be terminated on a date certain (unless, prior to such date,          
 the Common Stock is listed or quoted on any other Principal Market, as such term is defined in the SEPA), and there will be no suspension     
 of, or restriction on, accepting additional deposits of the Common Stock, electronic trading or book-entry services by The Depository         
 Trust Company with respect to the Common Stock;                                                                                               |

| ● | the                                                                                                                                
 Company will have authorized all of the shares of Common Stock issuable pursuant to the applicable Advance Notice by all necessary 
 corporate action of the Company; and                                                                                               |

| ● | the                                                                                                                              
 accuracy in all material respects of the representations and warranties of the Company included in the applicable Advance Notice 
 as of the applicable Advance Notice Date.                                                                                        |

| 6 |

Termination of the SEPA

Unless earlier terminated as provided in the SEPA, the SEPA will terminate automatically on the earliest to occur of:

| ● | the                                            
 24-month anniversary of the Effective Date; or |

| ● | the                                                                                                                              
 date on which the Investor will have purchased shares of Common Stock under the SEPA for an aggregate gross purchase price equal 
 to $25.0 million.                                                                                                                |

The Company hasthe right to terminate the SEPA at any time after the Effective Date, at no cost or penalty, upon five Trading Days’ prior written notice to the Investor; provided that (i) there are no outstanding Advance Notices under which shares of Common Stock have yet to be issued and (ii) the Company has paid all amounts owed to the Investor pursuant to the SEPA. The Company and the Investor may also terminate the SEPA at any time by mutual written consent.

No Short-Selling or Hedging by the Investor

TheInvestor has agreed that none of the Investor, its sole member, any of their respective officers, or any entity managed or controlled by the Investor or its sole member will engage in or effect, directly or indirectly, for its own account or for