Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 230

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 230
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 shares of Common Stock equal to 7% of the number of Shares issued and sold in the December Offering (excluding any securities that may be issued pursuant to the Options or upon exercise of the Warrants) in the form substantially similar as the Warrants (the “ Placement Agent Warrants”, and together with the Placement Agent Shares and the October Shares, the “ Placement Agent Securities”), each such issuance to Univest (and/or its designees) subject to and upon obtaining the appropriate approval by stockholders required by the applicable rules and regulations of the Nasdaq. Approval by the shareholders took place during a Special Shareholder meeting on March 10, 2023.

11. Retirement Plan

The Company maintains a voluntary savings and retirement plan under IRC Section 401(k) covering substantially all employees. Employees must complete six months of service and have attained the age of twenty-one prior to becoming eligible for participation in the plan. The Company plan allows eligible employees to contribute a percentage of their compensation on a pre-tax basis and the Company matches employee contributions, on a discretionary basis, currently in an amount equal to 100% of the first 3% and 50% of the next 2% of the employee’s salary, subject to annual tax deduction limitations. Effective January 1, 2017, Company matching contributions are vested immediately. Company matching contributions were $ 176thousand and $ 177thousand, which includes $ 0and $ 19thousand related to discontinued operations for 2023 and 2022, respectively. The Company may also make additional discretionary contributions in amounts as determined by management and the Board of Directors. There were noadditional discretionary contributions by the Company for the years 2023 or 2022.

12. Net (loss) income per Share

The following table sets forth the reconciliation of the numerators and denominators of the basic and diluted per share computations for continuing operations for the years ended December 31:

Schedule of Basic and Diluted Per Share Computations for Continuing Operations

| (Dollars in thousands, except shares)                                 
 Numerator:                                                            |     | 2023 |           |   |     | 2022 |          |   |
|:----------------------------------------------------------------------|:----|:-----|----------:|:--|:----|:-----|---------:|:--|
| Net loss from continuing operations                                   |     | $    |   (27,703 | ) |     | $    | (107,016 | ) |
| (Less) Net income