Company: SLNH
Filing Date: 2025-07-17
Form Type: 424B4
Source: 0001641172-25-019981
Chunk: 21

Company: Soluna Holdings, Inc
Filing Date: 2025-07-17
Form: 424B4
Chunk 21
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isting, we anticipate that we would take actions to restore our compliance with Nasdaq or another national exchange’s listing requirements, but we can provide no assurance that any such action taken by us would allow our common stock to regain listing on Nasdaq, stabilize our market price, improve the liquidity of our common stock, prevent our common stock from dropping below the minimum bid price requirement under the Nasdaq Rules, or prevent future non-compliance with Nasdaq or another national securities exchange’s listing requirements.

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<div align='center'>USE OF PROCEEDS</div>

We estimate that the net proceeds from the offering will be approximately $4.3 million, after deducting the placement agent fees and estimated offering expenses payable by us, and excluding the proceeds, if any, from the exercise of the Common Warrants issued in this offering. If the Common Warrants are exercised in full for cash, the estimated net proceeds will increase to $14.3. In addition, we may receive proceeds from the exercise of the placement agent warrants, to the extent such placement agent warrants are exercised for cash, but we will not receive any proceeds from any sale of the shares underlying the placement agent warrants.

We intend to use the net proceeds from the offering for working capital, project-level equity, and general corporate purposes. These expected uses represent our intentions based upon our current plans and business conditions, which could change in the future as our plans and business conditions evolve. Pursuant to Amendment No. 1 to Securities Purchase Agreement, dated October 3, 2024, between the Company and the holder of our Series B Preferred Stock, we are required to pay a consent fee equaling 10% of the gross proceeds from this offering to the holder of our Series B Preferred Stock. The amounts and timing of these expenditures will depend on numerous factors, including the development of our current business initiatives. We have no specific acquisition contemplated at this time. As of the date of this prospectus, we cannot specify with certainty all of the particular uses for the net proceeds from this offering. As a result, our management will have broad discretion in the application of the net proceeds from this offering, and the investors will be relying on the judgment of our management regarding the application of the net proceeds from this offering. The amounts and timing of our actual expenditures will depend on numerous factors, including factors described under “Risk Factors” in this prospectus and the documents incorporated by reference herein and therein.

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<div align='center'>DESCRIPTION OF SECURITIES WE ARE