Company: SLNH
Filing Date: 2025-09-26
Form Type: S-3
Source: 0001493152-25-015742
Chunk: 14

Company: Soluna Holdings, Inc
Filing Date: 2025-09-26
Form: S-3
Chunk 14
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 liquidity of the Warrants will be limited.

The Holder of the Warrants purchased in this offering will have no rights as a holder of common stock until such holder exercises such Warrants and acquires our common stock.

Until the holder of the Warrants acquires shares of our common stock upon exercise of such Warrants, the holder will have no rights with respect to the shares of our common stock underlying such Warrants. Upon exercise of the Warrants, the holder will be entitled to exercise the rights of a holder of common stock only as to matters for which the record date occurs after the exercise date. Notwithstanding the foregoing, the holder of the Warrants may be entitled to dividends or other distributions of the Company’s assets made to the holders of common stock in limited circumstances (the “Distribution Rights”).

The Warrants being offered are speculative in nature.

Notwithstanding the Distribution Rights, the Warrants do not confer any rights of common stock ownership on its holder, such as voting rights, but rather merely represents the right to acquire shares of common stock at a fixed price for a limited period of time. Moreover, following this offering, the market value of the Warrants, if any, will be uncertain and there can be no assurance that the market value of the Warrants will equal or exceed its imputed offering price. The Warrants will not be listed or quoted for trading on any market or exchange. There can be no assurance that the market price of our common stock will ever equal or exceed the exercise price of the Warrants, and consequently, the Warrants may expire valueless.

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<div align='center'>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</div>

This prospectus and the documents incorporated by reference in this prospectus contain, and our officers and representatives may from time to time make, forward-looking statements that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “estimate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions intended to identify statements about the future. These statements speak only as of the date of this prospectus and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements