Company: SLNH
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001641172-25-006194
Chunk: 37

Company: Soluna Holdings, Inc
Filing Date: 2025-04-25
Form: 424B3
Chunk 37
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 applicable Certificates of Designations,
and Bylaws, which have been filed as exhibits to the registration statement of which this prospectus forms a part.

General. Our Articles of
Incorporation authorize the Board, without obtaining stockholder approval, to issue up to 10,000,000 shares of Preferred Stock, from time
to time, in one or more series, and to fix the number of shares and determine for each such series such voting powers, designations, preferences,
and relative participating, optional, or other rights and such qualifications, limitations, or restrictions thereof. The Board is also
expressly authorized to increase or decrease (but not below the number of such series then outstanding) the number of shares of any series
subsequent to the issuance of shares of that series. If the number of shares of any series is decreased, the shares no longer designated
as shares of such series will resume the status of “blank check” preferred stock and may be designated, again, as a new series
of Preferred Stock by the Board.

As of April 18, 2025, 6,040,000 shares of
our Preferred Stock were classified as shares of Series A Preferred Stock and 187,500 shares were classified as Series B Preferred Stock,
with 4,953,545 shares of our Series A Preferred Stock issued and outstanding and 62,500 shares of our Series B Preferred Stock issued
and outstanding. Unless the applicable prospectus supplement indicates otherwise, we will have the right to “reopen” a previous
issue of a series of Preferred Stock by issuing additional Preferred Stock of such series.

The Preferred Stock will have the distribution, liquidation,
redemption, voting and conversion rights described in this section unless we state otherwise in the applicable prospectus supplement.
The liquidation preference is not indicative of the price at which the Preferred Stock will actually trade on or after the date of issuance.
You should read the prospectus supplement relating to the particular class or series of the Preferred Stock for specific terms, including:

| ● | the distinctive designation of the applicable class or series of Preferred Stock and the number of shares that will constitute the class or series;                                                                                                                                                                                         |
| ● | the initial offering price of such Preferred Stock;                                                                                                                                                                                                                                                                                         |
| ● | relative ranking and preference of such Preferred Stock as to distribution rights and rights upon liquidation, dissolution or winding up of our affairs;                                                                                                                                                                                    |
| ● | the distribution rate or rates (or method of calculation) on that class or series, the