Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 158

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 158
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    Navitas term loan 
     137  
     -  
     137 
  
    June 2024 secured note 
     3,922  
     7,061  
     10,983 
  
    July 2024 additional secured
    note 
     1,202  
     -  
     1,202 
  
    Total Debt 
    $14,444  
    $7,061  
    $21,505 

NYDIG
Financing

Schedule of Financing Debt

    (Dollars in thousands) 
    Maturity
    Dates 
    Interest
    Rate 
    January
    1, 2025- September 30, 2025  
    January
    1, 2024- December 31, 2024 
  
    NYDIG Loans #1-11 
    April 25, 2023 thru January 25, 2027*
                                                
    14% thru 16% 
    $9,183  
    $9,183 
  
    Less: repossession of collateralized assets 

     —  
     — 
  
    Gain on settlement of
    debt 

     (9,183) 
     — 
  
    Total outstanding debt 

    $—  
    $9,183 

    *
     
    Due
    to an event of default- the entire NYDIG ABL LLC (“NYDIG”) financing became current, see note below.

On
December 30, 2021, Soluna MC Borrowings, LLC 2021-1 (the “Borrower”), a subsidiary of Soluna MC, which is a subsidiary
of Soluna Digital Holdings, entered into a Master Equipment Finance Agreement (the “Master Agreement”) with
NYDIG as lender, servicer, and collateral agent. The Master Agreement provided for  up to approximately $14.4
million in total equipment financing (the “NYDIG Loans”).

In January 2022, the Borrower completed two drawdowns
totaling approximately $14.4 million, bearing interest at 14% and repayable over 24 months. As part of the financing, Soluna MC LLC, the
Borrower’s parent, provided a guaranty, and the Borrower pledged its assets, including certain digital asset accounts, as collateral
for the loans.

On