Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 4

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 4
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 H.C. Wainwright & Co.,
LLC (the “placement agent”), to act as our exclusive placement agent in connection with this offering. The placement
agent has agreed to use its reasonable best efforts to arrange for the sale of the securities offered by this prospectus. The placement
agent is not purchasing or selling any of the securities we are offering and the placement agent is not required to arrange the purchase
or sale of any specific number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees
set forth in the table below, which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for
funds to be received in escrow, trust or similar arrangement. There is no minimum offering requirement. We will bear all costs associated
with the offering. See “Plan of Distribution” on page 17 of this prospectus for more information regarding these arrangements.

Our common stock is currently listed on Nasdaq
under the symbol “SLNH”. On June 12, 2025, the closing price of our common stock on Nasdaq was $0.6448 per
share. There is no established public trading market for the Pre-Funded Warrants or Common Warrants that are part of this offering, and
we do not expect a market to develop. We do not intend to apply for listing of the Pre-Funded Warrants or Common Warrants on any securities
exchange or other nationally recognized trading system. Without an active trading market, the liquidity of the Pre-Funded Warrants and
Common Warrants will be limited.

Certain information in this prospectus is based
on an assumed combined public offering price of $0.6448 per share and accompanying Common Warrants, the last reported sale price
of our common stock on Nasdaq on June 12, 2025 (or assumed combined public offering price of $0.6438 per Pre-Funded Warrant
and accompanying Common Warrants). The actual combined public offering price per share and accompanying Common Warrants, and the actual
combined public offering price per Pre-Funded Warrant and accompanying Common Warrants, as the case may be, will be determined between
us, the placement agent and investors in this offering based on market conditions at the time of pricing and may be at a discount to
the current market price of our common stock. Therefore, the recent market price used throughout this prospectus may not be indicative
of the final offering price.

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