Company: SLNH
Filing Date: 2025-07-17
Form Type: 424B4
Source: 0001641172-25-019981
Chunk: 3

Company: Soluna Holdings, Inc
Filing Date: 2025-07-17
Form: 424B4
Chunk 3
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 cash fee equal to 7.0% of the gross proceeds raised in this offering. We have also agreed to reimburse the placement agent  
 for its legal fees and expenses and other out-of-pocket expenses in an amount up to $125,000 and for its clearing expenses in the   
 amount of up to $15,950. In addition, we have agreed to issue the placement agent or its designees warrants to purchase a number    
 of shares of common stock equal to 5.0% of the shares of common stock sold in this offering (including the shares of common stock   
 issuable upon the exercise of the Pre-Funded Warrants), at an exercise price of $0.69 per share, which                              
 represents 125% of the public offering price per share and accompanying Common Warrants. The registration statement of which this   
 prospectus forms a part also registers the offer and sale of these placement agent warrants and the shares of common stock issuable 
 upon exercise of these placement agent warrants. For a description of compensation to be received by the placement agent, see “Plan 
 of Distribution” for more information.                                                                                              |
| (2) | Because there is no minimum number of securities                                                                                    
 or amount of proceeds required as a condition to closing in this offering, the actual public offering amount, placement agent fees, 
 and proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts    
 set forth above. For more information, see “Plan of Distribution.”                                                                  |

The delivery of the shares of common stock and any Pre-Funded Warrants and Common Warrants to purchasers is expected to be made on or about July 17, 2025, subject to satisfaction of customary closing conditions.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus. Any representation to the contrary is a criminal offense.

<div align='center'>H.C. Wainwright & Co.

The date of this prospectus is July 15, 2025.

TABLE OF CONTENTS</div>

|                                                       |     | Page |
| ABOUT THIS PROSPECTUS                                 |     |   ii |
| CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS |     |  iii |
| PROSPECTUS SUMMARY                                    |     |    1 |
| THE OFFERING                                          |     |    7 |
| RISK FACTORS                                          |     |    9