Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 12

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 12
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 Limitation”). In addition, the number of shares of Common Stock that we may issue to the Investor under the SEPA may be limited by the number of our authorized shares of Common Stock. As of December 31, 2024, we were authorized to issue a maximum of 75 million shares of Common Stock, and we had an aggregate of 10,607,020 shares of Common Stock outstanding. Assuming a (i) Market Price of $2.24 and, (ii) no beneficial ownership limitations, we may issue up to 11,625,744 shares of Common Stock under Pricing Option 1 and up to 11,505,891 shares of Common Stock under Pricing Option 2, which would reflect approximately 52.3 % and 52.0%, respectively, of the outstanding shares of our Common Stock as of the date hereof after giving effect to such issuances. This does not include consent fees paid to a Selling Holder in connection with advances under the SEPA.

In addition, we also agreed to pay the Investor the Commitment Fee, equal to $250,000, or 1.0% of the aggregate amount available to be sold under the SEPA, in shares of Common Stock, for its irrevocable commitment to purchase our shares of Common Stock under the SEPA. The Company issued 59,382 Commitment Shares to the Investor on September 4, 2024, in satisfaction of the Commitment Fee.

On November 15, 2024, at a Special Meeting of Stockholders and pursuant to the rules of the Nasdaq Capital Market, we obtained stockholder approval to issue to the Investor, pursuant to the SEPA, shares of Common Stock that exceed 19.99% of the shares of Common Stock outstanding immediately prior to the execution of the SEPA.

Pursuant to the SEPA, we were required to register resales of the shares of Common Stock eligible to be sold pursuant to the SEPA and the Commitment Shares, collectively referred to as the Registrable Shares. We agreed to file a registration statement and shall not have the ability to request any advances under the SEPA until the registration statement, of which this prospectus forms a part, is declared effective.

Fees

As consideration for the Investor’s entry into the SEPA, we paid to the Investor a non-refundable due diligence fee of$25,000
and issued the Commitment Shares to the Investor.

Purchases of Common Stock Under the SEPA

Advance Notice