Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 32

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 32
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 expects that such provisions and terms may have the effect of discouraging extraordinary
corporate transactions with respect to the Company, such as hostile takeover bids, and will instead encourage any potential acquiror of
the Company to first correspond with our Board. These provisions and terms include:

| ● | Special meetings of stockholders may only be called by the by the chairman of the board or the chief executive officer, or, if there be no chairman of the board and no chief executive officer, by the president, and shall be called by the secretary upon the written request of at least a majority of the Board or the holders of not less than a majority of the voting power of the Company’s stock entitled to vote. |
| ● | The Company maintains a classified Board that is divided into three classes serving for respective three-year terms. As a result, it would take at least two successive annual meetings of shareholders to replace a majority of the members of our Board.                                                                                                                                                                   |
| ● | Vacancies on the Board may be filled by majority vote of remaining directors then in office, even if less than a quorum, with the individual elected to serve for the remainder of the unexpired term.                                                                                                                                                                                                                       |
| ● | Any director of the Company may be removed from service as a director only after the affirmative vote of 75% or more of outstanding shares of stock entitled to vote for the election of directors, at a meeting called for that purpose.                                                                                                                                                                                    |

Nevada’s “combinations with interested
stockholders” statutes, NRS 78.411 through 78.444, inclusive, prohibit specified types of business “combinations” between
certain Nevada corporations and any person deemed to be an “interested stockholder” for two years after such person first
becomes an “interested stockholder” unless the corporation’s board of directors approves the combination (or the transaction
by which such person becomes an “interested stockholder”) in advance, or unless the combination is approved by the board of
directors and sixty percent of the corporation’s voting power not beneficially owned by the interested stockholder, its affiliates
and associates. Further, in the absence of prior approval certain restrictions may apply even after such two year period. However, these
statutes do not apply to any combination of a corporation and an interested stockholder after the expiration of four years after the person
first became an interested stockholder. For purposes of these statutes, an “interested stockholder” is any person who is (1)
the beneficial