Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 250

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 250
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5, 2022. The Fourth A&R LLCA provides for certain updates in respect of Spring Lane’s majority ownership. The A&R Contribution Agreement reflects updated pro rata member funding percentages as a result of the Sale as well as updated contribution caps for each of the Company and Spring Lane.

As of January 1, 2023, there were no changes in the Limited Liability Agreement of the Company other than those related to incorporating the new investment and the purpose and design of the Company has not changed. The Company evaluated the power and benefits concepts under ASC 810 to determine whether the change in investment of Class B memberships would change the consolidation of the DVSL, and the Company concluded that, after the additional investment by Spring Lane, Soluna continues to have a controlling financial interest in DVSL. In addition, the Company continues to have the power and benefits associated with DVSL and therefore will continue to consolidate.

The carrying amount of the VIE’s assets and liabilities was as follows:

Schedule of Variable Interest Entities of Assets and Liabilities

|                                        | (Dollars in thousands) |   | December 
 31, 2023 |     |   | December 
 31, 2022 |
|:---------------------------------------|:-----------------------|:--|---------:|:----|:--|---------:|
| Current assets:                        |                        |   |          |     |   |          |
| Cash and restricted cash               |                        | $ |    2,275 |     | $ |       15 |
| Accounts receivable                    |                        |   |    1,246 |     |   |        - |
| Related party receivable- intercompany |                        |   |          |     |   |          |
| Other receivable- current              |                        |   |        - |     |   |      247 |
| Due from- intercompany                 |                        |   |      235 |     |   |        - |
| Total current assets                   |                        |   |    3,756 |     |   |      262 |
| Other assets- long term                |                        |   |    2,172 |     |   |        - |
| Property, plant, and equipment         |                        |   |   13,712 |     |   |   13,673 |
| Total assets                           |                        | $ |   19,640 |     | $ |   13,935 |
| Current liabilities:                   |