Company: SLNH
Filing Date: 2025-02-05
Form Type: 424B3
Source: 0001493152-25-005030
Chunk: 285

Company: Soluna Holdings, Inc
Filing Date: 2025-02-05
Form: 424B3
Chunk 285
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PA, to reduce the conversion price to $ 5.00upon stockholder approval.

In addition, in 2022, the Company issued to the Series B Investor 60,000common stock purchase warrants (the “Series B Warrants”) to purchase up to an aggregate of shares of common stock. In connection with the above referenced waiver, the exercise price of these warrants was reduced to $ 0.01per share and an additional 140,000warrants exercisable for $ 0.01per share were issued. The Series B Investor is entitled to exercise the Series B Warrants at any time on or prior to January 19, 2028.

Effective from October 1, 2024, sale of Common Stock as a result of conversion of Series B Preferred Stock and exercise of the new 140,000warrants is subject to a 12 month lockup, followed by a 12 month leak out where the holder may not sell shares during the lockup period and may sell up to 1/12 thof total conversion and warrant exercise shares per month during the leak out.

Common Stock

The Company has one class of common stock, par value $ 0.001per share. Each share of the Company’s common stock is entitled to one vote on all matters submitted to stockholders.As of September 30, 2024 and December 31, 2023, there were 7,649,478and 2,505,620shares of common stock outstanding, respectively.

Dividends

Pursuant to the Certificate of Designations, Preferences and Rights of 9.0% Series A Cumulative Perpetual Preferred Stock of the Company, dividends, when, as and if declared by the Board (or a duly authorized committee of the Board), will be payable monthly in arrears on the final day of each month, beginning August 31, 2021.The Board of Directors had not declared any Series A Preferred Stock dividends beginning October 2022 through December 31, 2023, as such the Company has accumulated approximately $ 8.6million of dividends in arrears on the Series A Preferred Stock through December 31, 2023, and an additional $ 2.8million and $ 7.1million of dividends in arrears for the three and nine months ended September 30, 2024 million, for a total of approximately $ 15.7million.

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The Company’s Series B Preferred Stock