Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 40

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 40
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 event that
any investors with whom the placement agent had back-and-forth correspondence (written or oral) during the term of our engagement agreement
with the placement agent provide any capital to us in a public or private offering or other financing or capital-raising transaction of
any kind (each, a “Tail Financing”) within eighteen (18) months following the termination or expiration of our engagement
agreement with the placement agent, we shall pay the placement agent the cash and warrant compensation provided above on the gross proceeds
raised in such Tail Financing from such investors.

Determination of Offering Price

The combined public offering price per share and
accompanying Common Warrants and the combined public offering price per Pre-Funded Warrant and accompanying Common Warrants we are offering
and the exercise prices and other terms of the Pre-Funded Warrants and Common Warrants were negotiated between us and the investors, in
consultation with the placement agent based on the trading of our common stock prior to this offering, among other things. Other factors
considered in determining the public offering prices of the securities we are offering and the exercise prices and other terms of the
Pre-Funded Warrants and Common Warrants include the history and prospects of our company, the stage of development of our business, our
business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.

Lock-up Agreements

We and each of our officers and directors have
agreed with the placement agent to be subject to a lock-up period of forty-five (45) days following the closing date of the offering.
This means that, during the applicable lock-up period, we may not offer for sale, contract to sell, or sell any shares of our common
stock or any securities convertible into, or exercisable or exchangeable for, shares of our common stock, subject to certain customary
exceptions such as issuing stock options to directors, officers, employees and consultants under our existing plans, and such persons
may not offer for sale, contract to sell, sell, distribute, grant any option, right or warrant to purchase, pledge, hypothecate or otherwise
dispose of, directly or indirectly, any of our shares of common stock or any securities convertible into, or exercisable or exchangeable
for, shares of common stock, subject to customary exceptions. The placement agent may, in its sole discretion and without notice, waive