Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 36

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 36
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 beneficially owned by the Series B Holder and its affiliates on the day immediately prior
to the first day of such period. Also under the Lock-Up and Leak-Out Agreement, the Series B Holder agreed, during the period commencing
on the effective date of the Lock-Up and Leak-Out Agreement and continuing until the earlier of (x) the date of termination of such period
as elected by the Company and (y) the twelve month anniversary thereof to not sell the shares of Common Stock issuable upon conversion
of the Series B Shares or the shares of Common Stock issuable upon exercise of the Warrants in excess of 1/12 of the shares of Common
Stock beneficially owned by the Series B Holder and its affiliates on the day immediately prior to the first day of such period.

Our Common Stock is quoted on The Nasdaq Capital Market
under the symbol “SLNH.”

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<div align='center'>DESCRIPTION OF CAPITAL STOCK</div>

The following description of our capital stock and certain provisions of our Articles of Incorporation and our Bylaws are summaries and are qualified by reference to our Articles of Incorporation, as amended (the “Articles of Incorporation”) and our Bylaws (the “Bylaws”). Such summaries do not purport to be complete and are qualified in their entirety by reference to Nevada law, including the Nevada Revised Statutes (“NRS”), as well as copies of our Articles of Incorporation and Bylaws, which have been filed as exhibits to the registration statement of which this prospectus forms a part.

General

Our Articles of Incorporation authorizes us to
issue up to 85,000,000 shares of stock, consisting of 75,000,000 shares of Common Stock and 10,000,000 shares of preferred stock, par
value $0.001 per share (“Preferred Stock”), of which 6,040,000 shares were classified as shares of Series A Preferred Stock
and 187,500 were classified as Series B Preferred Stock as of April 18, 2025. See “Description of Capital Stock - Preferred Stock” beginning on page 22. As of April 17, 2025, we had 12,508,045 shares of Common Stock outstanding, 4,953,545
shares of Series A Preferred Stock issued and outstanding, and 62,500 shares of Series B Preferred Stock issued and outstanding.

Common Stock

The following is a summary of some general terms and
provisions of our Common Stock. Because it is