Company: SLNH
Filing Date: 2025-10-27
Form Type: S-1
Source: 0001493152-25-019770
Chunk: 2

Company: Soluna Holdings, Inc
Filing Date: 2025-10-27
Form: S-1
Chunk 2
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ii) up to 2,500,000 shares (the “Conversion Shares,” and together with the Common Shares, the “Shares”) of our common stock underlying the secured promissory note issued to the Selling Stockholder (f/k/a Green Cloud Holdings, LLC) on June 20, 2024, in a principal amount equal to $12.5 million (the “Note”) at a conversion price of $5.00 per share, each (i) and (ii) in connection with and pursuant to that certain Modification Agreement, dated March 21, 2025 (the “Modification Agreement”), between the Company and the Note Parties (as defined below).

The Common Shares and the Note were, and the Conversion Shares when issued will be, issued to the Selling Stockholder in a private placement offering, as described herein (collectively, the “Private Placements”). For additional information about the Private Placements, see “ Private Placements.”

The Selling Stockholder may, from time to time, sell, transfer or otherwise dispose of any or all of the Shares or interests in the Shares on any stock exchange, market or trading facility on which the Shares are traded or in private transactions. These dispositions may be at fixed prices, at prevailing market prices at the time of sale, at prices related to the prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. See “ Plan of Distribution” in this prospectus for more information. We will not receive any proceeds from the resale or other disposition of the Shares by the Selling Stockholder. See “ Use of Proceeds” beginning on page 11 and “ Plan of Distribution” beginning on page 12 of this prospectus for more information. Although we have been advised by the Selling Stockholder that the Selling Stockholder is purchasing the Shares for its own account, for investment purpose in which they take investment risk (including, without limitation, the risk of loss), and without any view or intention to distribute such Shares in violation of the Securities Act of 1933, as amended (the “Securities Act”), or any other applicable securities laws, the Selling Stockholder may be deemed an “underwriter” within the meaning of Section 2(a)(11) of the Securities Act by the Securities and Exchange Commission (the “SEC”) , in which case any profits on the sales of the Shares by the Selling Stockholder and any discounts, commissions or concessions received by the Selling Stockholder would be deemed to be underwriting discounts and commissions under