Company: SLNH
Filing Date: 2025-10-27
Form Type: S-1
Source: 0001493152-25-019770
Chunk: 34

Company: Soluna Holdings, Inc
Filing Date: 2025-10-27
Form: S-1
Chunk 34
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 PN, LTD., a Cayman Islands exempt limited company (“YA”) on August 12, 2024. Pursuant to the terms of the SEPA, we agreed to issue and sell to YA, from time to time, up to $25 million of shares of our common stock (the “SEPA Shares”). The SEPA Shares will be issued and sold by us to YA in reliance upon the exemption from the registration requirements of the Securities Act afforded by Section 4(a)(2) of the Securities Act.

On March 23, 2025, the Note Parties entered into the Modification Agreement to, among other things, provide for the deposit of 1,000,000 Common Shares into an escrow account maintained by Northland Securities, Inc., and provide for the issuance of the Warrant to the Selling Stockholder upon the release by the Selling Stockholder of its lien on our property. Subsequently, we and the Selling Stockholder mutually agreed that the 1,000,000 Common Shares would instead be issued directly to the Selling Stockholder, and, on April 29, 2025, we issued the 1,000,000 Common Shares to the Selling Stockholder. The Common Shares were issued and the Warrant will be issued in reliance upon the exemption from registration provided by Section 4(a)(2) of the Securities Act.

On September 12, 2025, the Company and the Borrowers entered into the Credit Agreement. Pursuant to the Credit Agreement, the Company issued to Generate in a private placement: (i) a pre-funded warrant to purchase up to 2,000,000 shares of common stock; and (ii) a common warrant to purchase up to 2,000,000 shares of common stock. The Generate Warrants were issued and sold without registration under the Securities Act or state securities laws in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act promulgated thereunder and in reliance on similar exemptions under applicable state laws.

| II-3 |

Item 16. Exhibits

| 2.1  
 3.1  |     | Agreement and Plan of Merger dated August 11, 2021, by and among Soluna Holdings, Inc., formerly known as Mechanical Technology, Incorporated, SCI Merger Sub, Inc., and Soluna Callisto Holdings Inc., formerly known as Soluna Computing, Inc. (incorporated by reference from Exhibit 2.1 of the Company’s Form 8-K