Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 51

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 51
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 (the “Additional Notes”) to
additional accredited investors (the “Additional Investors”). As further inducement for the Additional Investors to purchase
the Additional Notes, Soluna Cloud agreed to issue to each Additional Investor a warrant (collectively, the “July Warrants”)
for a number of shares of common stock of Soluna Cloud equal to the sum of (a) 1.25% of Soluna Cloud’s issued and outstanding common
stock as of the date of the July Warrants, divided by 0.9875, plus (b) 1.25% of each Qualified Issuance (as defined below), divided by
0.9875. For purposes of the July Warrants, “Qualified Issuance” means (y) each issuance of common stock of Soluna Cloud during
the period commencing on the day after the date of the July Warrants and ending on the earlier to occur of (i) the conclusion of up to
an additional $111,250,000 of capital raised, whether in the form of debt, equity, mixed or otherwise, by Soluna Cloud and its subsidiaries,
and (ii) December 31, 2024, and (z) the number of shares of common stock of Soluna Cloud issuable upon the exercise or conversion of
any convertible securities of CloudCo issued during such period. The July Warrants were issued in a transaction exempt from the registration
requirements of the Securities Act by virtue of Section 4(a)(2) of the Securities Act and Regulation D promulgated under the Securities
Act and exempt from registration or qualification under applicable state securities laws.

We entered into the SEPA with YA on August 12,
2024. Pursuant to the terms of the SEPA, we agreed to issue and sell to YA, from time to time, up to $25 million of SEPA Shares. The SEPA
Shares will be issued and sold by us to YA in reliance upon the exemption from the registration requirements of the Securities Act
afforded by Section 4(a)(2) of the Securities Act.

On March 23, 2025, the Note Parties entered into
the Modification Agreement to, among other things, provide for the deposit of 1,000,000 Investor Shares into an escrow account maintained
by Northland Securities, Inc., and provide for the issuance of the Warrant to the Investor. Subsequently, we and the Investor mutually
agreed that the 1,000,000