Company: SLNH
Filing Date: 2025-10-27
Form Type: S-1
Source: 0001493152-25-019770
Chunk: 3

Company: Soluna Holdings, Inc
Filing Date: 2025-10-27
Form: S-1
Chunk 3
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 the Securities Act.

Our common stock is listed on the Nasdaq Capital Market (“Nasdaq”) under the symbol “SLNH.” The last reported sale price for our common stock on October 24, 2025 on Nasdaq was $3.05.

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

An investment in our securities involves a high degree of risk. Before deciding whether to invest in our securities, you should consider carefully the risks and uncertainties described in the section captioned “ Risk Factors” contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025 and our other filings we make with the SEC from time to time, which are incorporated by reference herein in their entirety, together with other information in this prospectus and the information incorporated by reference herein.

Neither the SEC nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

<div align='center'>The date of this prospectus is , 2025.</div>

<div align='center'>TABLE OF CONTENTS</div>

| ABOUT THIS PROSPECTUS                                | ii |
| PROSPECTUS SUMMARY                                   |  1 |
| THE OFFERING                                         |  6 |
| PRIVATE PLACEMENTS                                   |  7 |
| RISK FACTORS                                         |  8 |
| CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS |  9 |
| SELLING STOCKHOLDER                                  | 10 |
| USE OF PROCEEDS                                      | 11 |
| PLAN OF DISTRIBUTION                                 | 12 |
| DESCRIPTION OF SECURITIES                            | 13 |
| LEGAL MATTERS                                        | 15 |
| EXPERTS                                              | 16 |
| WHERE YOU CAN FIND MORE INFORMATION                  | 17 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE    | 18 |

| i |

<div align='center'>ABOUT THIS PROSPECTUS</div>

This prospectus forms part of a registration statement that we filed with the SEC, and that includes exhibits that provide more detail with respect to the matters discussed in this prospectus. You should read this prospectus and the related exhibits filed with the SEC, together with