Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 254

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 254
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 5,147,602 |   |     |      | 1,162,689 |   |

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

| F-52 |

<div align='center'>Soluna Holdings, Inc. and Subsidiaries
Condensed Consolidated Statements of Changes in Equity
For the Year Ended December 31, 2023

And the Three and Nine Months Ended September 30, 2024 (Unaudited)</div>

(Dollars in thousands, except per share)

|                                                             |     | Series A        
 Shares          
 Preferred Stock 
 Series A        
 Shares          |           |     | Amount 
 Amount |   |     | Series B 
 Shares   
 Series B 
 Shares   |        |     | Amount 
 Amount |   |     | Shares       
 (1)          
 Common Stock 
 Shares       
 (1)          |           |     | Amount 
 (1)    
 Amount 
 (1)    |   |     | Capital            
 (1)                
 Additional Paid-in 
 Capital            
 (1)                |         |   |     | Accumulated Deficit 
 Accumulated Deficit |          |   |     | Shares         
 (1)            
 Treasury Stock 
 Shares         
 (1)            |        |     | Amount 
 Amount |         |   |     | Controlling 
 Interest    
 Non-        
 Controlling 
 Interest    |        |   |     | Stockholders’ Equity 
 Total                
 Stockholders’ Equity |        |   |
|:------------------------------------------------------------|:----|:----------------|----------:|:----|:-------|--:|:----|:---------|-------:|:----|:-------|:--|:----|:-------------|----------:|:----|:-------|--:|:----|:-------------------|--------:|:--|:----|:--------------------|:---------|:--|:----|:---------------|-------:|:----|:-------|:--------|:--|:----|:------------|-------:|:--|:----|:---------------------|-------:|:--|
| January 1, 2023                                             |     |                 | 3,061,245 |     | $      | 3 |     |          | 62,500 |     | $      | — |     |              |   788,578 |     | $      | 1 |     | $                  | 277,429 |