Company: SLNH
Filing Date: 2025-07-21
Form Type: DEF 14A
Source: 0001641172-25-020351
Chunk: 37

Company: Soluna Holdings, Inc
Filing Date: 2025-07-21
Form: DEF 14A
Chunk 37
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 the Audit Committee considers the aggregate value of the transaction, whether the transaction was undertaken in the ordinary course of business, the nature of the relationships involved, and whether the transaction is on terms comparable to those that could be obtained in arm’s length dealings with an unrelated third party.

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<div align='center'>PROPOSAL 2: APPROVAL OF THE REVERSE STOCK SPLIT PROPOSAL</div>

General

On July 3, 2025, the Board unanimously adopted resolutions approving, declaring advisable and recommending to our stockholders for their approval of the effectuation of one or more Reverse Stock Splits pursuant to Nevada Revised Statutes (“NRS”) 78.2055, with an aggregate ratio in the range of not less than one-for-five (1:5) and not greater than one-for-fifty (1:50), with the number, timing and exact ratio each to be determined by our Board in its discretion at any time within one year after stockholder approval is obtained, to regain compliance with the $1.00 minimum bid price continued listing requirement), with respect to the then-issued and outstanding shares of our common stock. Each Reverse Stock Split will also affect then-outstanding options, warrants and Series B Preferred Stock. A Reverse Stock Split will not affect the number of our authorized shares of common stock.

Approval of this proposal will grant our Board the authority, without further action by our stockholders, to carry out one or more Reverse Stock Splits any time within one year after stockholder approval is obtained, with the exact timing and split ratio of each Reverse Stock Split to be determined at the discretion of our Board (within the aggregate range indicated above) and set forth in a public announcement. Even if our stockholders approve this proposal, our Board may determine in its discretion to abandon and not to effectuate any Reverse Stock Splits. In addition, our Board may determine to effect one or more Reverse Stock Splits even if the trading price of our common stock is at or above $1.00 per share.

Background

Our common stock is currently listed on the Nasdaq Capital Market under the symbol “SLNH.” The continued listing requirements of the Nasdaq Capital Market provide, among other things, that our common stock must maintain a closing bid price in excess of $1.00 per share. On May 8, 2025, we received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying us that, for thirty (30