Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 40

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 40
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 amount of securities, cash or other property that the
holders would have received had they exercised the Pre-Funded Warrants immediately prior to such fundamental transaction on a net exercise
basis.

Placement Agent Warrants

In addition, we have agreed to issue to the placement
agent or its designees the placement agent warrants to purchase up to 5.0% of the aggregate number of shares of common stock sold in this
offering (including the shares of common stock issuable upon the exercise of the Pre-Funded Warrants), at an exercise price equal to 125%
of the public offering price per share of common stock and accompanying Common Warrants to be sold in this offering. The placement agent
warrants will be exercisable beginning on the effective date of Warrant Stockholder Approval, provided that if the Pricing Conditions
are met, the placement agent warrants will be exercisable upon issuance. The placement agent warrants will expire five years from the
commencement of sales under this offering. The placement agent warrants issued in this offering will otherwise have substantially the
same terms as the Common Warrants.

<div align='center'>PLAN OF DISTRIBUTION</div>

We have engaged
to act as our exclusive placement agent to solicit offers to purchase the securities offered by this prospectus on a reasonable best efforts
basis. The placement agent is not purchasing or selling any securities, nor are they required to arrange for the purchase and sale of
any specific number or dollar amount of securities, other than to use their “reasonable best efforts” to arrange for the sale
of the securities by us. Therefore, we may not sell the entire amount of securities being offered.

The terms of this offering are subject to
market conditions and negotiations between us, the placement agent and prospective investors. The placement agent will have no
authority to bind us by virtue of the engagement letter. This is a best efforts offering and there is no minimum amount of proceeds
that is a condition to closing of this offering. Investors purchasing securities offered hereby will have the option to execute a
securities purchase agreement with us. In addition to rights and remedies available to all purchasers in this offering under federal
securities and state law, the purchasers which enter into a securities purchase agreement will also be able to bring claims of
breach of contract against us. The placement agent may engage one or more sub-agents or selected dealers in connection with the
offering. The ability to pursue a claim for breach of contract is material to larger purchasers in this offering as a means to