Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 302

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 302
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2024. On September
24, 2024, NYDIG sent a letter seeking supplemental discovery from the NYDIG Defendants, and the NYDIG Defendants completed responding
to NYDIG’s additional/supplemental document requests by November 20, 2024 and the deposition of a representative of the Defendants
on or before December 15, 2024. Per agreement between NYDIG and the NYDIG Defendants, (i) the deadline to respond to the supplemental
discovery demands was extended to December 12, 2024 but with rolling weekly production to commence on November 21, 2024, and (ii) a deposition
of a representative of the NYDIG Defendants occurred on January 23, 2025.

Additionally,
NYDIG has stated its intention to pursue the parent company of Guarantor (the “Parent Entity”) under a piercing of the corporate
veil theory relating to NYDIG Defendants’ debts and liabilities under the loan documents. Parent Entity intends to vigorously defend
itself from NYDIG’s parent company claims. Parent Entity denies any such liability and filed a complaint for a declaratory judgment
against NYDIG in the Eighth Judicial District Court in Clark County, Nevada on March 16, 2023, seeking a declaratory judgment as to such
matter. On June 22, 2023, the court issued an order granting NYDIG’s motion to dismiss without prejudice. Parent Entity intends
to continue to vigorously defend any allegations regarding liability on account of NYDIG Defendants’ debts and liabilities to NYDIG
under their loan documents.

Item
4: Mine Safety Disclosures

Not
applicable.

43

PART
II

Item
5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Market
Information

Our
common stock is listed on the Nasdaq Capital Market under the trading symbol “SLNH.”

Holders

We
have one class of common stock, par value $0.001, and are authorized to issue 75,000,000 shares of common stock. Each share of our common
stock is entitled to one vote on all matters submitted to shareholders. As of December 31, 2024, there were 10,607,020 shares of common
stock issued and outstanding. As of March 21, 2025, there were approximately 119 shareholders of record of our common stock. The number
of shareholders of record does not reflect the number of persons whose shares are held in nominee