Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 184

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 184
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333-282559) with the SEC for the resale by YA of 3,000,000 SEPA Shares, which was
declared effective by the SEC on February 5, 2025. During the three and nine months ended September 30, 2025, the Company has issued
and sold approximately 1.5 million and 3.0 million shares of common stock to YA pursuant to the SEPA for aggregate net proceeds to the
Company of approximately $4.2 million and $6.2 million.

ATM
Agreement

On
April 29, 2025, the Company entered into the ATM Agreement” with Wainwright, as sales agent, pursuant to which the Company may
offer and sell, from time to time, through Wainwright, up to $87.65
million of shares of common stock. The Company will pay Wainwright a commission of 3.0%
of the aggregate gross proceeds from each sale of shares and has agreed to provide Wainwright with customary indemnification and
contribution rights. During the three and nine months ended September 30, 2025, the Company sold 14,649,141 and 17,989,804 shares
of common stock pursuant to the ATM Agreement for net proceeds of $20.8 million
and $23.0 million
after deducting sales agent commissions. The Company has sold an additional 2,690,679 shares
of common stock pursuant to the ATM Agreement subsequent to September 30, 2025 for additional net proceeds of approximately
$6.3 million. As of the date of these condensed financial statements, the Company has approximately $69.7 million of shares of
common stock that are available for issuance under the ATM.

    26

July
2025 Public Offering

On
July 15, 2025, the Company entered into a securities purchase agreement with the purchasers signatory thereto, pursuant to which the
Company sold in a public offering (the “July 2025 Offering”) an aggregate of (i) 8,794,544 shares of common stock (each a
“Share” and collectively, the “Shares”); (ii) pre-funded warrants (the “Pre-Funded Warrants”) to
purchase 296,365 shares of common stock; (iii) Series A warrants (the “Series A Warrants”) to purchase 9,090,909 shares of
common stock; and (iv) Series B