Company: SLNH
Filing Date: 2025-10-27
Form Type: S-1
Source: 0001493152-25-019770
Chunk: 10

Company: Soluna Holdings, Inc
Filing Date: 2025-10-27
Form: S-1
Chunk 10
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 Project Kati 1 beginning in the third quarter of 2025.

July 2025 Public Offering

On July 15, 2025, the Company entered into a securities purchase agreement with the purchasers signatory thereto, pursuant to which the Company sold in a public offering (the “July 2025 Offering”) an aggregate of (i) 8,794,544 shares of common stock; (ii) pre-funded warrants to purchase 296,365 shares of common stock; (iii) Series A warrants (the “Series A Warrants”) to purchase 9,090,909 shares of common stock; and (iv) Series B warrants to purchase 9,090,909 shares of common stock.

Each share of common stock or pre-funded warrant was sold together with one Series A Warrant to purchase one Share and one Series B Warrant to purchase one share of common stock. The combined public offering price for each share of common stock (or pre-funded warrant) and accompanying Series A Warrant and Series B Warrant was $0.55. The pre-funded warrants have an exercise price of $0.001 per share, are exercisable immediately upon issuance and will expire when exercised in full. Each Series A Warrant and Series B Warrant has an exercise price of $0.55 per share and is exercisable immediately upon issuance. The Series A Warrants will expire on the five-year anniversary of the initial exercise date and the Series B Warrants will expire on the twenty-four-month anniversary of the initial exercise date.

The net proceeds of the July 2025 Offering, after deducting the fees and expenses of the placement agent, and other offering expenses payable by the Company, but excluding the net proceeds, if any, from the exercise of the Series A Warrants and Series B Warrants, is approximately $4.3 million. The July 2025 Offering closed on July 17, 2025.

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Project Specific Developments

Project Hedy

We have signed a term sheet for power for Project Hedy, a new 120 MW data center co-located with a 200 MW wind farm in South Texas. The wind farm is owned by a new power partner-a multinational conglomerate that focuses on developing and managing sustainable infrastructure solutions, with a strong emphasis on renewable energy, water management, and services, aiming to contribute to a low-carbon economy and a better planet.

Project Ellen

We have signed a term sheet for power for Project Ellen, a new 100 MW