Company: SLNH
Filing Date: 2025-07-09
Form Type: PRE 14A
Source: 0001641172-25-018420
Chunk: 33

Company: Soluna Holdings, Inc
Filing Date: 2025-07-09
Form: PRE 14A
Chunk 33
---
='center'>TRANSACTIONS WITH RELATED PERSONS</div>

The following is a description of transactions since January 1, 2023, and each currently proposed transaction in which:

| ● | We                                                                                                                                     
 have been or are to be a participant;                                                                                                  |
| ● | the                                                                                                                                    
 amount involved exceeded or will exceed the lesser of $120,000 or 1% of our total assets at year-end for our last two completed fiscal 
 years; and                                                                                                                             |
| ● | any                                                                                                                                    
 of our directors, executive officers or beneficial owners of more than 5% of our capital stock, or any immediate family member of,     
 or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest,   
 other than compensation and other arrangements that are described in the section titled “Executive Compensation.”                      |

MeOH Power, Inc.

On December 18, 2013, MeOH Power, Inc. (“MeOH”) and the Company executed a Senior Demand Promissory Note (the “Note”) in the amount of $380 thousand to secure the intercompany amounts due to the Company from MeOH upon the deconsolidation of MeOH. Interest accrues on the Note at the Prime Rate in effect on the first business day of the month, as published in the Wall Street Journal. At the Company’s option, all or part of the principal and interest due on this Note may be converted to shares of common stock of MeOH at a rate of $0.07 per share. Interest began accruing on January 1, 2014. The Company recorded a full allowance against the Note. As of December 31, 2024 and December 31, 2023, $385 thousand and $363 thousand, respectively, of principal and interest are available to convert into shares of common stock of MeOH. Any adjustments to the allowance are recorded as miscellaneous expenses during the period incurred.

HEL Transactions

On October 29, 2021, the Company completed the Soluna Callisto acquisition pursuant to a merger agreement (the “Merger Agreement”). The purpose of the transaction was for SCI to acquire substantially all of the assets (other than those assets physically located in Morocco) formerly held by Harmattan Energy, Ltd. (formerly Soluna Technologies, Ltd.) (“HEL”), which assets consisted of SCI’s existing pipeline of certain cryptocurrency mining projects that HEL previously transferred to SCI, which was formed expressly for this purpose, and to provide SCI with