Company: SLNH
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001641172-25-006194
Chunk: 42

Company: Soluna Holdings, Inc
Filing Date: 2025-04-25
Form: 424B3
Chunk 42
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, transfer or conveyance of all
or substantially all of our property or business, nor the merger or consolidation of us into or with any other entity or the merger or
consolidation of any other entity into or with us or a statutory share exchange by us, shall be deemed to constitute the dissolution,
liquidation or winding up of our affairs. In determining whether a distribution (other than upon voluntary or involuntary dissolution),
by dividend, redemption or other acquisition of shares or otherwise, is permitted under Nevada law, amounts that would be needed, if we
were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of the holders of a class or
series of Preferred Stock will not be added to our total liabilities.

Voting Rights. Holders
of our Preferred Stock will not have any voting rights, except as set forth below or otherwise from time to time specified in the applicable
prospectus supplement.

| 24 |

Unless otherwise provided for in an applicable class
or series, so long as any Preferred Stock are outstanding, we may not, without the affirmative vote or consent of a majority of the shares
of each affected class or series of Preferred Stock outstanding at that time:

| ● | reclassify any authorized shares of capital stock into a class or series of shares of capital stock ranking senior to that class or series of Preferred Stock with respect to distribution and liquidation rights;                                                                                      |
| ● | create, authorize or issue any security or obligation convertible into or evidencing the right to purchase any shares of capital stock ranking senior to that class or series of Preferred Stock with respect to distribution and liquidation rights; and                                               |
| ● | amend, alter or repeal the provisions of our Articles of Incorporation or any Certificate of Designations relating to that class or series of Preferred Stock, whether by merger, consolidation or otherwise, in a manner that materially and adversely affects the class or series of Preferred Stock. |

The authorization, creation or increase of the authorized
or issued amount of any class or series of shares of capital stock ranking on parity or junior to a class or series of Preferred Stock
with respect to distribution and liquidation rights will not be deemed to materially and adversely affect that class or series. Further,
with respect to any merger, consolidation or similar event, so long as a class or series of Preferred Stock remains outstanding with the
terms thereof materially unchanged or the holders of shares of that class or series receive shares of the successor with substantially
identical rights, taking into account that