Company: SLNH
Filing Date: 2025-07-09
Form Type: PRE 14A
Source: 0001641172-25-018420
Chunk: 41

Company: Soluna Holdings, Inc
Filing Date: 2025-07-09
Form: PRE 14A
Chunk 41
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 the market price of common stock could encourage    
 interest in our common stock and possibly promote greater liquidity for stockholders, such liquidity could also be adversely affected     
 by the reduced number of shares outstanding after such Reverse Stock Split.                                                               |

Principal Effects of a Reverse Stock Split

If a Reverse Stock Split(s) is approved and effected with respect to our issued and outstanding common stock, each holder of common stock outstanding immediately prior to the effectiveness of a Reverse Stock Split will own a reduced number of shares of common stock upon effectiveness of such Reverse Stock Split. A Reverse Stock Split would be effected simultaneously for all outstanding shares of common stock at the same split ratio. Except for adjustments that may result from the treatment of fractional shares (as described below), a Reverse Stock Split would affect all stockholders uniformly and would not change any stockholder’s percentage ownership interest in us. The relative voting rights and other rights and preferences that accompany the shares of common stock will not be affected by a Reverse Stock Split. Shares of common stock issued pursuant to a Reverse Stock Split will remain fully paid and nonassessable.

A Reverse Stock Split will not affect the number of authorized shares of common stock. Although a Reverse Stock Split will not, by itself, have any immediate dilutive effect on stockholders, the proportion of shares owned by stockholders relative to the number of shares authorized for issuance will decrease because the number of authorized shares of common stock would remain unchanged. As a result, additional authorized shares of common stock would become available for issuance at such times and for such purposes as our Board may deem advisable without further action by stockholders, except as required by applicable law or stock exchange rules. To the extent that additional authorized shares of common stock are issued in the future, such shares could be dilutive to our existing stockholders by decreasing such stockholders’ percentage of equity ownership in us.

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Assuming this proposal is approved by the stockholders and implemented by the Board:

|                                                                                     |     | Current(1) |            |     | 1:5 |            |     | 1:10 |            |     | 1:25 |            |     |   |       1:50 |
| Common Stock Authorized                                                             |     |            | 75,000,000 |     |     | 75,000,000 |     |      | 75,000,000 |     |      | 75,000,000 |     |   | 75,000,000 |
| Common Stock Issued and Outstanding