Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 149

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 149
---
 shares of capital stock, including Preferred Stock. These restrictions may be indirect, such as covenants which require us to maintain specified levels of net worth or assets.

| 90 |

Distributions on any class or series of Preferred Stock may be cumulative, noncumulative or partially cumulative, as specified in the applicable prospectus supplement. Cumulative distributions will be cumulative from and after the date shown in the applicable prospectus supplement. If our Board of Directors fails to authorize a distribution that is noncumulative, the holders of the applicable class or series will have no right to receive, and we will have no obligation to pay, a distribution in respect of the applicable distribution period, whether or not distributions on that class or series are declared payable in the future.

We refer to our shares of Common shares or other stock, now or hereafter issued, that rank junior to an applicable class or series of Preferred Stock with respect to distribution rights as junior stock. To the extent that the applicable class or series is entitled to a cumulative distribution, we may not declare or pay any distributions, or set aside any funds for the payment of distributions, on junior stock, or redeem or otherwise acquire junior stock, unless we also have declared and either paid or set aside for payment the full cumulative distributions on such class or series of Preferred Stock and on all our other class or series of Preferred Stock ranking senior to or on a parity with such class or series of Preferred Stock for all past distribution periods. The preceding sentence does not prohibit:

| ● | distributions                                                                                   
 payable in junior shares or options, warrants or rights to subscribe for or purchase            
 junior stock;                                                                                   |
| ● | conversions                                                                                     
 into or exchanges for junior stock;                                                             |
| ● | pro                                                                                             
 rata offers to purchase or a concurrent redemption of all, or a pro rata portion of, the        
 outstanding Preferred Stock of such class or series and any other class or series of shares     
 ranking on a parity with such class or series of Preferred Stock with respect to distribution   
 rights and rights upon our liquidation, dissolution or winding up; or                           |
| ● | our                                                                                             
 redemption, purchase or other acquisition of shares under incentive, benefit or share purchase  
 plans for Directors, officers or employees, or others performing or providing similar services, 
 or our redemption or other acquisition of rights issued under any shareholder rights plan       
 we may adopt.                                                                                   |

To the extent an applicable class or series is noncumulative, we need only declare, and pay or set aside for payment, the