Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 234

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 234
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.

Summary of Common Stock Warrant Activity

|                            |     | Number  
 of      
 Warrant 
 Shares  |           |   |     | Weighted           
 Average            
 Exercise Price ($) |       |
|:---------------------------|:----|:--------|----------:|:--|:----|:-------------------|------:|
| Balance, December 31, 2022 |     |         |   396,107 |   |     | $                  | 57.25 |
| Granted                    |     |         |   834,022 |   |     |                    |  9.55 |
| Exercised                  |     |         |   (81,726 | ) |     |                    |  0.01 |
| Forfeited/ Expired         |     |         |      (134 | ) |     |                    |  0.01 |
| Balance, December 31, 2023 |     |         | 1,148,269 |   |     | $                  | 24.21 |

As of December 31, 2023, the outstanding warrants have a weighted average remaining term of 3.88years.

The following is a summary of common stock warrant activity during the year ended December 31, 2022.

|                            |     | Number  
 of      
 Warrant 
 Shares  |         |   |     | Weighted           
 Average            
 Exercise Price ($) |        |
|:---------------------------|:----|:--------|--------:|:--|:----|:-------------------|-------:|
| Balance, December 31, 2021 |     |         |  87,758 |   |     | $                  | 346.25 |
| Granted                    |     |         | 359,491 |   |     |                    |  57.75 |
| Exercised                  |     |         |  (3,780 | ) |     |                    | 206.00 |
| Forfeited/ Expired         |     |         | (47,362 | ) |     |                    | 237.50 |
| Balance, December 31, 2022 |     |         | 396,107 |   |     | $                  |  57.25 |

As of December 31, 2022, the outstanding warrants have a weighted average remaining term of 3.99years.

| F-39 |

14. Commitments and Contingencies