Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 46

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 46
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whether or not declared), before any distribution
or payment may be made to holders of shares of the Common Stock or any other class or series of the Company’s capital stock ranking,
as to rights to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up, junior to the Series
A Preferred Stock (the “liquidation preference”).

If, upon such voluntary or involuntary liquidation,
dissolution or winding up of the Company’s affairs, the assets of the Company legally available for distribution to the Company’s
stockholders are insufficient to pay the full amount of the liquidation preference on all outstanding shares of Series A Preferred Stock
and the corresponding amounts payable on all shares of each other class or series of capital stock of the Company ranking, as to rights
to the distribution of assets upon any voluntary or involuntary liquidation, dissolution or winding up, on parity with the Series A Preferred
Stock, then the holders of the Series A Preferred Stock and each such other class or series of capital stock of the Company ranking, as
to rights to the distribution of assets upon the Company’s voluntary or involuntary liquidation, dissolution or winding up, on parity
with the Series A Preferred Stock will share ratably in any distribution of assets in proportion to the full liquidation preference to
which they would otherwise be respectively entitled.

Preemptive Rights. No holders
of Series A Preferred Stock will, as holders of Series A Preferred Stock, have any preemptive rights to purchase or subscribe for the
Common Stock or any other security.

Redemption Rights. The
Company is not required to redeem the Series A Preferred Stock at any time. Accordingly, the Series A Preferred Stock will remain outstanding
indefinitely, unless the Company decides, at its option, to exercise its redemption right or, under circumstances as described in “Conversion
Rights,” where the holders of Series A Preferred Stock have a conversion right, such holders convert the Series A Preferred Stock
into the Common Stock. The Series A Preferred Stock is not subject to any sinking fund.

Conversion Rights. The
shares of Series A Preferred Stock are not convertible into or exchangeable for any other property or securities of the Company or any
other entity, except upon the occurrence of a delisting event or change of control.

Nonassessability. All outstanding
shares of our Series A Preferred Stock are fully paid and nonassessable.

Series B Preferred Stock

On July 19, 2022, the Company
entered into a Securities Purchase Agreement (the