Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 181

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 181
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| Balance, December 31, 2022                                     |     | $ | 12,254 |   |
| Conversions of debt (January 2023- May 11 2023)                |     |   | (1,344 | ) |
| Total revaluation losses                                       |     |   |     30 |   |
| Balance, May 11, 2023 (date of Second Amendment)               |     |   | 10,940 |   |
| Conversions of Debt (May 11, 2023-November 19, 2023)           |     |   | (1,550 | ) |
| Total revaluation losses                                       |     |   |  1,569 |   |
| Balance November 20, 2023 (date of Third Amendment)            |     | $ | 10,959 |   |
| Financial liabilities , Beginning balance                      |     | $ | 10,959 |   |
| Conversions of debt (November 20, 2023- December 31, 2023)     |     |   | (3,069 | ) |
| Conversions of debt                                            |     |   | (3,069 | ) |
| Total revaluation losses                                       |     |   |    584 |   |
| Total revaluation (gains) losses                               |     |   |    584 |   |
| Balance December 31, 2023                                      |     | $ |  8,474 |   |
| Financial liabilities, Ending balance                          |     | $ |  8,474 |   |

Consistent with the guidance in purchase accounting, the value of the pipeline of certain cryptocurrency mining projects previously owned by HEL acquired in the Soluna Callisto acquisition in October 2021 as of the acquisition date was estimated using an expected value approach, which probability-weights various future outcomes and uses certain Level 3 inputs. Included in those inputs are the following key assumptions: expected growth in share price at a risk-free rate in the risk-neutral framework based on U.S. Treasury Rates as of the valuation date, volatility of share price based on historical equity volatilities of comparable companies over a lookback period, assessments associated with qualified projects based on assessment on timing of payments and assessment of active megawatt scenarios and the associated probabilities. The resulting amounts are then discounted to present value through use of a discount rate that considers, among other things, the risk of the payments, credit