Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 278

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 278
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 value of the assets totaling $ 251thousand that was expensed as a loss on disposition of assets for the year ended December 31, 2023. On December 7, 2023, NYDIG filed its Motion for Summary Judgment seeking entry of a judgment against Soluna in the approximate amount of $ 10.3million for principal and interest and penalties. On January 12, 2024, Soluna filed its objection to NYDIG’s motion for summary judgment on the grounds that NYDIG failed to explain what collateral of which loan was sold and how the sale proceeds were allocated to each loan. A summary judgment motion was performed on February 13, 2024 and was agreed upon by both NYDIG and the Borrower, that the total outstanding loan principal balance would be approximately $ 9.2million, in which a penalty fee was applied of approximately $ 1.0million to the repossessed collateralized assets, and outstanding interest and penalty balance would be approximately $ 936thousand as of December 31, 2023. The Company applied the per diem interest rate agreed upon with the summary judgement for the three and nine months ended September 30, 2024 and recorded interest expense of approximately $ 370thousand and $ 1.1million and has an outstanding interest and penalty accrual of approximately $ 1.9million recorded within “Accrued Liabilities” as of September 30, 2024. See Note 9 for further information in relation to the NYDIG litigation matter.

| F-65 |

Navitas term loan

Schedule of Navitas Term Loan

| (Dollars in thousands)                                           
 Term Loan and capitalized interest (excludes debt issuance cost) |     | Maturity Date 
 May 9, 2025   |     | Interest Rate | 15 | % |     | January 1, 2024-   
 September 30, 2024 |  1,707 |   |     | May 9, 2023-      
 December 31, 2023 | 2,254 |   |
|:-----------------------------------------------------------------|:----|:--------------|:----|:--------------|:---|:--|:----|:-------------------|-------:|:--|:----|:------------------|------:|:--|
| Less: principal and capitalized interest payments                |     |               |     |               |    |   |     |                    | (1,