Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 4

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 4
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 is not purchasing
or selling any of the securities we are offering and the placement agent is not required to arrange the purchase or sale of any specific
number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth in the table below,
which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to be received in escrow,
trust or similar arrangement. There is no minimum offering requirement. We will bear all costs associated with the offering. See “Plan
of Distribution” on page 18 of this prospectus for more information regarding these arrangements.

Our common stock is currently listed on
Nasdaq under the symbol “SLNH”. On , 2025, the closing price of our common stock on Nasdaq was $ per share. There is no established
public trading market for the Pre-Funded Warrants or Common Warrants that are part of this offering, and we do not expect a market to
develop. We do not intend to apply for listing of the Pre-Funded Warrants or Common Warrants on any securities exchange or other nationally
recognized trading system. Without an active trading market, the liquidity of the Pre-Funded Warrants and Common Warrants will be limited.

Certain information in this prospectus is based
on an assumed combined public offering price of $ per share and accompanying Common Warrants, the last reported sale
price of our common stock on Nasdaq on , 2025 (or assumed combined public offering price of $
per Pre-Funded Warrant and accompanying Common Warrants). The actual combined public offering price per share and accompanying Common
Warrants, and the actual combined public offering price per Pre-Funded Warrant and accompanying Common Warrants, as the case may be, will
be determined between us, the placement agent and investors in this offering based on market conditions at the time of pricing and may
be at a discount to the current market price of our common stock. Therefore, the recent market price used throughout this prospectus may
not be indicative of the final offering price.

You should read this prospectus, together with
additional information described under the headings “Information Incorporated by Reference” and “Where You Can Find
More Information,” carefully before you invest in any of our securities.

We are a “smaller reporting company,”
and as such, we have elected to take advantage of certain reduced public company reporting requirements for this prospectus and future
filings. Investing in our securities involves a