Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 4058

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 4058
---

    of any rights of first refusal or participation rights in connection with the SEPA;

    ●
    standstill
    of the rights to exercise certain $0.01 warrants pursuant to the SPA;

    ●
    the
    right to prepay the convertible notes with a 20% premium;

    ●
    termination
    of the SPA and related agreements upon the full payoff of the convertible notes; and

    ●
    mutual
    limited release of claims between the Noteholders and the Company.

In
return for these consents, the Company agreed to pay a $750 thousand waiver fee and to prepay to the remaining Note Holders the 20% premium
for the prepayment of the Notes of approximately $625 thousand. Such amounts were recorded as within Other Expense, net within the Consolidated
Financial Statements.

For
the year ended December 31, 2024, the Company issued 2,512,581 shares of common stock for conversion of the debt, which includes the
final conversion shares noted below. For the year ended December 31, 2023, the Company issued 1,235,678 shares of common stock for the
conversion of debt.

On
December 12, 2024, the Company entered into an agreement with the remaining three Note Holders who held an outstanding principal balance
as of December 12, 2024, pursuant to which the three remaining Note Holders elected to immediately convert all of the outstanding principal
of certain convertible notes into shares of the Company’s common stock. The agreement satisfied the full outstanding debt owed
to the remaining three Note Holders under the Convertible Notes. Following the conversion, 335,661 shares of common stock were issued
to the Note Holders in accordance with the terms of the Convertible Notes, as amended. The Company recorded a debt inducement conversion
expense of approximately $388 thousand within Other Expense, net on the Consolidated Financial Statements. No further amounts are owed
by the Company under the Convertible Notes as of December 31, 2024.

     F-25 

NYDIG
financing

 Schedule of Financing Debt

    (Dollars in thousands) 
    Maturity Dates 
    Interest Rate 
    January 1, 2024 - December 31, 2024  
    January 1, 2023 -  December 31, 2023 
  
    NYDIG Loans #1-11 
    April