Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 51

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 51
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 otherwise, could have a negative impact on our financial condition and on our ability to pursue our business plans and strategies.

Risks Related to this Offering and the SEPA

Substantial blocks of our Common Stock may be sold into the market as a result of our being party to the SEPA.

The price of our Common Stock could decline if there are substantial sales of shares of our Common Stock, if there is a large number of shares of our Common Stock available for sale, or if there is the perception that these sales could occur.

Any issuances of shares of our Common Stock in any issuance will dilute the percentage ownership of stockholders and may dilute the per share projected earnings (if any) or book value of our Common Stock. Sales of a substantial number of shares of our Common Stock in the public market or other issuances of shares of our Common Stock, or the perception that these sales or issuances could occur, could cause the market price of our Common Stock to decline and may make it more difficult for you to sell your shares at a time and price that you deem appropriate.

You may experience immediate and substantial dilution in the net tangible book value per share of our Common Stock.

The offering price per share of our Common Stock in this offering may or may not exceed the net tangible book value per share of our Common Stock outstanding prior to this offering. For example, assuming that an aggregate of 3,000,000 shares of our Common Stock are sold pursuant to this prospectus at an assumed price of $2.00 per share, you would experience dilution of $0.05/share (calculated based on current share count and price), representing the difference between our adjusted net tangible book value per share after giving effect to this offering and the assumed offering price.

Under the SEPA, we do not have the right to control the timing and amount sales of our shares of Common Stock by the Investor.

Sales of our Common Stock, if any, to the Investor under the SEPA will depend upon market conditions and other factors, and the discretion of the Investor. We may ultimately issue to the Investor all, some or none of the shares of our Common Stock.

Because the price for the shares will fluctuate based on the market prices of our Common Stock, it is not possible for us to predict, as of the date of this prospectus and prior to any issuance of shares under the SEPA, the number of shares that we will issue to the Investor under the SEPA, and it is possible that the number of shares