Company: SLNH
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001493152-25-023884
Chunk: 11

Company: Soluna Holdings, Inc
Filing Date: 2025-11-17
Form: 424B3
Chunk 11
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 on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports, filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act of 1934, as amended (the “Exchange Act”), as soon as reasonably practicable after electronically filing such materials with, or furnishing them to, the SEC. The SEC maintains an Internet website, www.sec.gov, that contains reports, proxy and information statements and other information that we file electronically with the SEC.

| 5 |

<div align='center'>THE OFFERING</div>

| Common Stock                             
 to be offered by the Selling Stockholder |     | Up to 3,500,000 shares of our common stock consisting of:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |                                 |
|                                          |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | ● 1,000,000 Common Shares; and  |
|                                          |     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | ● Up                            
 to 2,500,000 Conversion Shares. |
| Use                                      
 of Proceeds                              |     | We will not receive any proceeds from the Conversion Shares offered by the Selling Stockholder pursuant to this prospectus. The net proceeds from dispositions of the Common Shares (i) at a price of up to $4.00 per share, shall be applied to reduce the outstanding principal balance of the Note, and (ii) at a price greater than $4.00 per share, shall be applied first to reduce the outstanding principal balance of the Note in an amount equal to $4.00 per share of our common stock and then to the Selling Stockholder. Please see the section entitled “Use of Proceeds” on page 11 of this prospectus for a more detailed discussion.                                             |                                 |
| National Securities                      
 Exchange Listing                         |     | Our common stock is currently listed on Nasdaq under the symbol “SLNH.”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |                                 |
| Risk Factors                             |     | An investment in our securities involves a high degree of risk. Please see the section entitled “Risk Factors” beginning on page 8 of this prospectus. In addition before deciding whether to invest in our securities, you should consider carefully the risks and uncertainties described in the section captioned “Risk Factors” contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on March 31, 2025, and other filings we make with