Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 50

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 SEPA, the Company agreed to issue and sell to
YA, from time to time, and YA agreed to purchase from the Company, up to $25 million of shares of the Company’s common stock (the
“SEPA Shares”). The Company paid a commitment fee of approximately $250 thousand to YA and consent fee of $25 thousand to
the holder of shares of Series B Preferred Stock, which was paid through the issuance of 65,320 shares of common stock. The commitment
and consent fees were recorded within Other expense, net on the Company’s consolidated financial statements for the year ended
December 31, 2024. The Company and YA also entered into a registration rights agreement, pursuant to which the Company agreed to prepare
and file with the SEC a Registration Statement on Form S-1, registering the resale of the SEPA Shares. On November 12, 2024, the Company
filed a registration statement on Form S-1 (File No. 333-282559) with the SEC for the resale by YA of 3,000,000 SEPA Shares, which was
declared effective by the SEC on February 5, 2025. During the three and nine months ended September 30, 2025, the Company has issued
and sold approximately 1.5 million and 3.0 million shares of common stock to YA pursuant to the SEPA for aggregate net proceeds to the
Company of approximately $4.2 million and $6.2 million.

ATM
Agreement

On
April 29, 2025, the Company entered into the ATM Agreement” with Wainwright, as sales agent, pursuant to which the Company may
offer and sell, from time to time, through Wainwright, up to $87.65
million of shares of common stock. The Company will pay Wainwright a commission of 3.0%
of the aggregate gross proceeds from each sale of shares and has agreed to provide Wainwright with customary indemnification and
contribution rights. During the three and nine months ended September 30, 2025, the Company sold 14,649,141 and 17,989,804 shares
of common stock pursuant to the ATM Agreement for net proceeds of $20.8 million
and $23.0 million
after deducting sales agent commissions. The Company has sold an additional 2,690,679 shares
of common stock pursuant to the ATM Agreement subsequent to September