Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 27

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 27
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    price
     $
    2.30
    – 3.78

    Volatility
      
    80.0
    – 115
    %

    Risk-free
    interest rate
      
    4.73-
    5.46
    %

There
were two additional amendments in fiscal year 2023. On February 28, 2024, the Company and the Noteholders entered into a Fourth Amendment
Agreement to amend the Notes, SPA and related agreements to facilitate future financings by the Company. In addition, the Company was
permitted to unilaterally extend the maturity date of the Notes for two 3-Month extensions if prior to the then in effect maturity date
the Company gives notice to the Noteholders and increases the principal amount of the Notes on the date of each such extension by two
percent (2%) the principal amount of the Notes outstanding on the date of such extension.

    20

In
consideration of the foregoing, the Company:

    ●
    Reduced
    the conversion price of the Notes to $3.78 per share;

    ●
    The
    Noteholders received an aggregate of 850,000 three year warrants exercisable at $0.01 per share;

    ●
    An
    aggregate of 320,005 warrants held by the Noteholders had the exercise price reduced to $3.78 per share (the “$3.78 Warrants”);
    and

    ●
    An
    aggregate of 478,951 warrants held by the Noteholders had the exercise price reduced to $6.00 per share (the “$6.00 Repriced
    Warrants”). For every one $6.00 Repriced Warrant exercised by a Purchaser, such Purchaser shall receive 1.36 new five-year
    warrants with an exercise price of $0.01, 1.6 new five-year warrants with an exercise price of $4.20, and 1.6 new five-year warrants
    with an exercise price of $5.70.

In
June 2024, pursuant to the Fourth Amendment Agreement, the Company exercised its right to extend the maturity date of the Notes for an
additional six months, or until January 24, 2025, to enable the Company to continue to pursue its significant project development opportunities
for Soluna Cloud, Dorothy 2, and other projects. The extension