Company: SLNH
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001493152-25-023884
Chunk: 0

Company: Soluna Holdings, Inc
Filing Date: 2025-11-17
Form: 424B3
Chunk 0
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Filed Pursuant to Rule 424(b)(3)

Registration No. 333-291105

PROSPECTUS

<div align='center'>Soluna Holdings, Inc.

Up to 3,500,000 Shares of Common Stock</div>

This prospectus relates to the resale of up to 3,500,000 shares of Soluna Holdings, Inc.’s (the “Company,” “we,” “our” or “us”) common stock, par value $0.001 per share (“common stock”), by the selling stockholder listed in this prospectus (the “Selling Stockholder”). The shares of common stock registered for resale pursuant to this prospectus consist of (i) 1,000,000 shares (the “Common Shares”) of our common stock issued to the Selling Stockholder on April 29, 2025, and (ii) up to 2,500,000 shares (the “Conversion Shares,” and together with the Common Shares, the “Shares”) of our common stock underlying the secured promissory note issued to the Selling Stockholder (f/k/a Green Cloud Holdings, LLC) on June 20, 2024, in a principal amount equal to $12.5 million (the “Note”) at a conversion price of $5.00 per share, each (i) and (ii) in connection with and pursuant to that certain Modification Agreement, dated March 21, 2025 (the “Modification Agreement”), between the Company and the Note Parties (as defined below).

The Common Shares and the Note were, and the Conversion Shares when issued will be, issued to the Selling Stockholder in a private placement offering, as described herein (collectively, the “Private Placements”). For additional information about the Private Placements, see “ Private Placements.”

The Selling Stockholder may, from time to time, sell, transfer or otherwise dispose of any or all of the Shares or interests in the Shares on any stock exchange, market or trading facility on which the Shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. See “ Plan of Distribution” in this prospectus for more information. We will not receive any proceeds from the resale or other disposition of the Shares by the Selling Stockholder. See “ Use of Proceeds” beginning on page 11 and “ Plan