Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 7

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 7
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 the Investor after 9:00 a.m. Eastern Time on a trading day, upon receipt by the Company of written confirmation of acceptance of the advance notice by the Investor and, in either case, ending at 4:00 p.m. New York City time on the applicable advance notice date (the “Option 1 Pricing Period”). Under the second option (“Pricing Option 2”), the Company will sell the shares of Common Stock to the Investor at 97% of the Market Price for the three consecutive trading days commencing on the advance notice date (the “Option 2 Pricing Period”). “Market Price” is defined as, for any Option 1 Pricing Period, the daily VWAP of the Common Stock on Nasdaq during the Option 1 Pricing Period, and for any Option 2 Pricing Period, the lowest VWAP of the Common Stock on the Nasdaq during the Option 2 Pricing Period.

We may not issue or sell any shares of Common Stock to the Investor under the SEPA that, when aggregated with all other shares of Common Stock then beneficially owned by the Investor and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the Investor and its affiliates beneficially owning more than 9.99% of the outstanding shares of Common Stock (the “Beneficial Ownership Limitation”). In addition, the number of shares of Common Stock that we may issue to the Investor under the SEPA may be limited by the number of our authorized shares of Common Stock. As of December 31, 2024, we were authorized to issue a maximum of 75 million shares of Common Stock, and we had an aggregate of 10,607,020 shares of Common Stock outstanding. Assuming a (i) Market Price of $2.24 and, (ii) no beneficial ownership limitations, we may issue up to 11,625,744 shares of Common Stock under Pricing Option 1 and up to 11,505,891 shares of Common Stock under Pricing Option 2, which would reflect approximately 52.3 % and 52.0%, respectively, of the outstanding shares of our Common Stock as of the date hereof after giving effect to such issuances.This does not include consent fees paid to a Selling Holder in connection with advances
under the SEPA.

In addition, we also agreed to pay the Investor a commitment fee, equal to $250,000, or 1.0% of