Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 849

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 849
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 be approximately $9.2 million, to which a penalty fee was applied
of approximately $1.0 million with respect to the repossessed collateralized assets, and outstanding interest and penalty balance would
be approximately $936 thousand as of December 31, 2023. The Company applied the per diem interest rate agreed upon with the summary judgement
for the year ended December 31, 2024 and recorded interest expense of approximately $1.4 million and has an outstanding interest and
penalty accrual of approximately $2.3 million recorded within “Accrued Liabilities” as of December 31, 2024. See Note 13
for further information in relation to the NYDIG litigation matter.

Navitas
term loan

 Schedule of Navitas Term Loan

    (Dollars in thousands) 
    Maturity Date 
    Interest Rate  
    January 1, 2024-  December 31, 2024  
    May 9, 2023-  December 31, 2023 
  
    Term Loan and capitalized interest (excludes debt issuance cost) 
    May 9, 2025 
     15% 
    $1,707  
    $2,254 
  
    Less: principal and capitalized interest payments 

     (1,570) 
     (547)
  
    Less: debt issuance costs 

     -  
     (26)
  
    Total outstanding debt 

    $137  
    $1,681 

     F-26 

On
May 9, 2023, DVCC and Navitas West Texas Investments SPV, LLC entered into a 2-year Loan Agreement (“Term Loan”) for $2,050,000.
The unpaid principal balance of the Term Loan shall bear interest at per annum rate equal to 15%. Beginning on the last Business Day
of the month in which the In-Service Date occurs (date Dorothy 1B is put into full operation following the planned ramp-up period), and
continuing on the last Business Day of each month thereafter until the repayment of all Term Loan debt principal and accrued interest
occurs, DVCC shall make debt service payments on the Term Loan through a cash sweep with the Site-level Free Cash Flow (total revenue
of DVCC minus power costs and site level costs listed in Loan and Security agreement), otherwise to be distributed to Soluna Holdings,
Inc., the