Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 51

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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30, 2025 for additional net proceeds of approximately
$6.3 million. As of the date of these condensed financial statements, the Company has approximately $69.7 million of shares of
common stock that are available for issuance under the ATM.

    26

July
2025 Public Offering

On
July 15, 2025, the Company entered into a securities purchase agreement with the purchasers signatory thereto, pursuant to which the
Company sold in a public offering (the “July 2025 Offering”) an aggregate of (i) 8,794,544 shares of common stock (each a
“Share” and collectively, the “Shares”); (ii) pre-funded warrants (the “Pre-Funded Warrants”) to
purchase 296,365 shares of common stock; (iii) Series A warrants (the “Series A Warrants”) to purchase 9,090,909 shares of
common stock; and (iv) Series B warrants (the “Series B Warrants,” and together with the Series A Warrants, the “Common
Warrants”) to purchase 9,090,909 shares of common stock.

Each
Share or Pre-Funded Warrant was sold together with one Series A Warrant to purchase one Share and one Series B Warrant to purchase one
Share. The combined public offering price for each Share (or Pre-Funded Warrant) and accompanying Common Warrants was $0.55. The Pre-Funded
Warrants have an exercise price of $0.001 per share, are exercisable immediately upon issuance and will expire when exercised in full.
Each Common Warrant has an exercise price of $0.55 per share and is exercisable immediately upon issuance. The Series A Warrants will
expire on the 5five-year anniversary of the initial exercise date of July 17, 2025 and the Series B Warrants will expire on the 24twenty-four-month
anniversary of the initial exercise date of July 17, 2025.

The
net proceeds of the July 2025 Offering, after deducting the fees and expenses of the placement agent and other offering expenses payable
by the Company, but excluding the net proceeds, if any, from the exercise of the Common Warrants, was approximately $4.2 million. The
July 2025 Offering closed on July 17, 2025.

Based
on a review of the Common Warrants, the warrants were liability treated. Based
on