Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 294

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 2
Chunk 294
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 February 5, 2025. During the three and nine months ended September 30, 2025, the Company has issued
and sold approximately 1.5 million and 3.0 million shares of common stock to YA pursuant to the SEPA for aggregate net proceeds to the
Company of approximately $4.2 million and $6.2 million.

ATM
Agreement

On
April 29, 2025, the Company entered into an At the Market Offering Agreement (the “ATM Agreement”) with H.C. Wainwright &
Co., LLC (“Wainwright”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Wainwright,
up to $3.75 million of shares of common stock. The Company will pay Wainwright a commission of 3.0% of the aggregate gross proceeds from
each sale of shares and has agreed to provide Wainwright with customary indemnification and contribution rights. An additional prospectus
supplement was filed on September 2, 2025, in which the Company may offer and sell shares of our common stock having an aggregate offering
price of up to $8,585,280 from time to time through Wainwright, and an additional prospectus supplement was filed on September 23, 2025,
in which the Company may offer and sell shares of our common stock having an aggregate offering price up to $87,650,000 from time to
time through Wainwright.

During the three and nine
months ended September 30, 2025, the Company sold 14,649,141 and 17,989,804 shares of common stock pursuant to the ATM Agreement for
net proceeds of $20.8 million and $23.0 million after deducting sales agent commissions. The Company has sold an additional 2,690,679
shares of common stock pursuant to the ATM Agreement subsequent to September 30, 2025 for additional net proceeds of approximately $6.3
million.

The
shares of common stock sold under the ATM Agreement are offered and sold pursuant to the Company’s effective shelf registration
statement on Form S-3 (File No. 333-286638) filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”)
on April 18, 2024 and declared effective by the SEC on April 29, 2025. As of the date of these condensed financial statements, we