Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 12

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 12
---
,922  
     7,061  
     10,983 
  
    July
    2024 additional secured note 
     1,202  
     -  
     1,202 
  
    Total
    Debt 
    $14,444  
    $7,061  
    $21,505 

    14

NYDIG
Financing

 Schedule of Financing Debt

    (Dollars
    in thousands) 
    Maturity
    Dates 
    Interest
    Rate 
    January
    1, 2025-
 June 30, 2025  
    January
    1, 2024-
 December 31, 2024 
  
    NYDIG
    Loans #1-11 
    April
    25, 2023 thru January 25, 2027* 
    14%
    thru 16% 
    $9,183  
    $9,183 

    Less:
    repossession of collateralized assets 

     —  
     — 
  
    Total
    outstanding debt 

    $9,183  
    $9,183 

    *
     
    Due
    to event of default- the entire NYDIG financing became current, see note below.

On
December 30, 2021, Borrower, a subsidiary of Soluna MC, a subsidiary of SDI, a subsidiary of the Company, entered into a Master Equipment
Finance Agreement (the “Master Agreement”) with NYDIG as lender, servicer and collateral agent (the “NYDIG facility”).
The Master Agreement outlined the framework for a financing up to approximately $14.4 million in aggregate equipment financing. Subsequently,
the parties negotiated the specific terms of each equipment financing transaction as well as the terms upon which the Noteholders would
consent to the transactions contemplated by the Master Agreement.

On
January 14, 2022, the Borrower effected an initial drawdown under the Master Agreement in the aggregate principal amount of approximately
$4.6 million that bore interest at 14% and was to be repaid over 24 months. On January 26, 2022, the Borrower had a subsequent drawdown
of $9.8 million. As part of the transactions contemplated under the Master Agreement, (i) the Company’s indirect wholly owned subsidiary,
Soluna MC LLC, formerly EcoChain Block