Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 103

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 103
---
8,082 | ) |     |      | (11,376 | ) |
| Adjustments: Non-cash items                             |                        |      |                        |   |     |      |        |   |     |      |                        |   |     |      |         |   |
| Stock-based compensation costs                          |                        |      |                  1,257 |   |     |      |    595 |   |     |      |                  3,286 |   |     |      |   3,709 |   |
| (Gain) loss on sale of fixed assets                     |                        |      |                      - |   |     |      |    373 |   |     |      |                     21 |   |     |      |     404 |   |
| Provision for credit losses                             |                        |      |                    367 |   |     |      |      - |   |     |      |                    611 |   |     |      |       - |   |
| Impairment on fixed assets                              |                        |      |                      - |   |     |      |     41 |   |     |      |                    130 |   |     |      |     418 |   |
| (Gain) loss on debt extinguishment and revaluation, net |                        |      |                 (1,203 | ) |     |      |    769 |   |     |      |                  7,495 |   |     |      |   2,350 |   |
| Adjusted EBITDA                                         |                        | $    |                 (3,482 | ) |     | $    |    405 |   |     | $    |                  3,461 |   |     | $    |  (4,495 | ) |

| 61 |

Comparison of the Three-Month Periods From January 1, 2024 Through September 30, 2024

|                                                         | (Dollars in thousands) |   |              Three 
 months ended March 
           31, 2024 |   |     |   |             Three 
 months ended June 
          30, 2024 |   |     |   |                  Three 
 months ended September 
               30, 2024 |   |
|:--------------------------------------------------------|:-----------------------|:--|-------------------:|:--|:----|:--|------------------:|:--|:----|: