Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 15

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 15
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, we
entered into a Standby Equity Purchase Agreement (the “SEPA”) with YA II PN, LTD., a Cayman Islands exempt limited company
(“YA”). Pursuant to the terms of the SEPA, we agreed to issue and sell to YA, from time to time, and YA agreed to purchase
from us, up to $25 million of shares of our common stock (the “SEPA Shares”). We and YA also entered into a registration rights
agreement, pursuant to which we agreed to prepare and file with the SEC a Registration Statement on Form S-1, registering the resale of
the SEPA Shares. On November 12, 2024, we filed a registration statement on Form S-1 (File No. 333-282559) with the SEC for the resale
by YA of 3,000,000 SEPA Shares, which was declared effective by the SEC on February 5, 2025. As of the date of this prospectus, we have
issued and sold approximately 1.5 million shares of our common stock to YA pursuant to the SEPA for aggregate net proceeds to us of approximately
$2.0 million. We intend to continue issuing shares of our common stock to YA pursuant to the SEPA in future periods.

Assignment and Assumption Agreements

CloudCo, Soluna Cloud, and the Company, entered
into assignment and assumption agreements on October 1, 2024, with one of the accredited investors issued convertible notes and Class
A, Class B and Class C common stock purchase warrants on October 25, 2021 (the “Purchasers”),
and two other parties introduced by that Purchaser, with respect to an aggregate of $1.25 million of notes (“Additional Notes”)
issued by CloudCo (the “Assignment Agreements”). Pursuant to the Assignment Agreements, we will be able to purchase such notes
for a purchase price of $750 thousand, or 60% of face value. The assignment and assumption will be effective once all conditions of the
agreement are met including fulfilling the purchase price. On March 14, 2025, the Company fulfilled the agreement and assumed the assignment
and assumption of the Additional Notes for the remaining outstanding balance.

Galaxy Note

On March 12, 2025, Soluna SW LLC, a Delaware limited
liability company and a subsidiary of Soluna SW Holdings LLC, a Delaware limited liability company and a subsidiary of Soluna Digital