Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 174

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 174
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    (Dollars in thousands) 
    Maturity
    Date 
    Interest
    Rate  
    January
    1, 2025- September 30, 2025  
    January
    1, 2024- December 31, 2024 
  
    Term Loan and capitalized interest
    (excludes debt issuance cost) 
    May 9, 2025* 
     15% 
    $137  
    $1,707 
  
    Less: principal and capitalized
    interest payments 

     (137) 
     (1,570)
  
    Total outstanding debt 

    $-  
    $137 

    *
    May
    9, 2025 was the maturity date, however, as noted below, the Navitas loan was fully paid off in the first quarter of 2025, and as
    such no longer remains outstanding.

    22

On
May 9, 2023, DVCC and Navitas West Texas Investments SPV, LLC entered into a 2-year Loan Agreement (“Navitas Term Loan”)
for $2,050,000. As of September 30, 2025, the Company has paid the remaining outstanding balance of $137 thousand, therefore fulfilling
its debt obligation with Navitas. Interest expense related to the Navitas Term Loan for the three and nine months ended September 30,
2025 was approximately $0 and $2 thousand, respectively. Interest expense related to the Navitas Term Loan for the three and nine months
ended September 30, 2024 was approximately $21 thousand and $122 thousand, respectively.

Convertible
Notes

On
October 25, 2021, pursuant to a Securities Purchase Agreement (the “October SPA”),
the Company issued to certain accredited investors (the “Noteholders”) (i) secured convertible notes in an aggregate principal
amount of $16.3 million for an aggregate purchase price of $15 million (collectively, the “October Secured Notes”), which
were, subject to certain conditions, convertible at any time by the investors, into an aggregate of 1,776,073 shares of the Company’s
common stock, at a price per share of $9.18 and (ii) Class A, Class B and Class C common stock purchase warrants (collectively, the “October
Warrants”) to purchase up to an aggregate of 1,776,