Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 43

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 43
---
 distributions
have been made in full to all holders of Preferred Stock, our remaining assets will be distributed among the holders of any other shares
of capital stock ranking junior to the Preferred Stock upon liquidation, according to their rights and preferences and in each case according
to their number of shares.

If, upon any voluntary or involuntary liquidation,
dissolution or winding up of our affairs, our available assets are insufficient to pay the amount of the liquidating distributions on
all outstanding shares of that class or series and the corresponding amounts payable on all equally ranking shares of capital stock upon
any liquidation, dissolution or winding up of our affairs, then the holders of that class or series and all other equally ranking shares
of capital stock shall share ratably in the distribution in proportion to the full liquidating distributions to which they would otherwise
be entitled.

Unless otherwise specified in the applicable prospectus
supplement, after payment of the full amount of the liquidating distribution to which they are entitled, the holders of a class or series
of Preferred Stock will have no right or claim to any of our remaining assets. Neither the sale, lease, transfer or conveyance of all
or substantially all of our property or business, nor the merger or consolidation of us into or with any other entity or the merger or
consolidation of any other entity into or with us or a statutory share exchange by us, shall be deemed to constitute the dissolution,
liquidation or winding up of our affairs. In determining whether a distribution (other than upon voluntary or involuntary dissolution),
by dividend, redemption or other acquisition of shares or otherwise, is permitted under Nevada law, amounts that would be needed, if we
were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of the holders of a class or
series of Preferred Stock will not be added to our total liabilities.

Voting Rights. Holders
of our Preferred Stock will not have any voting rights, except as set forth below or otherwise from time to time specified in the applicable
prospectus supplement.

| 24 |

Unless otherwise provided for in an applicable class
or series, so long as any Preferred Stock are outstanding, we may not, without the affirmative vote or consent of a majority of the shares
of each affected class or series of Preferred Stock outstanding at that time:

| ● | reclassify any authorized shares of capital stock into a class or series of shares of capital stock ranking senior to that class or series of Preferred Stock with respect to