Company: SLNH
Filing Date: 2025-04-25
Form Type: 424B3
Source: 0001641172-25-006194
Chunk: 31

Company: Soluna Holdings, Inc
Filing Date: 2025-04-25
Form: 424B3
Chunk 31
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2025.

YA II PN LTD. (the “Investor”)
is a fund managed by Yorkville Advisors Global II, LP (the “Manager”). Yorkville Advisors Global II, LLC is the General Partner
of the Manager. Investment decisions for the Investor are made by Mr. Mark Angelo, and Mr. Angelo may therefore be deemed to hold voting
and dispositive power with respect to such shares. The business address of the Investor is 1012 Springfield Avenue, Mountainside, NJ 07092.

Based upon the number of shares registered
under this Registration Statement. In the event the number of shares sold under the SEPA is less, the number of shares offered will be
accordingly reduced.

The address of the Series B Holder is
7/F 15 Shelter Street, Causeway Bay, Hong Kong HK.

Consists of 5,938 consent shares of Common
Stock issued in relation to the SEPA on October 1, 2024 in a private placement exempt from registration pursuant to Section 4(a)(2) of
the Securities Act, warrants exercisable for 60,000 shares of Common Stock at an exercise price of $0.01 per share, the Warrants and 1,250,000
shares of Series B Preferred Stock which are subject to a 4.99% beneficial ownership blocker. The number of shares listed in the second
and fourth columns are based on the number of shares of Common Stock and Series B Preferred Stock and warrants held by the Series B Holder,
assuming the full conversion of the Series B Preferred Stock and full exercise of the warrants without regard to any limitations on exercise,
but the percentage set forth in the fifth column is limited by the 4.99% beneficial ownership blocker.

The address of Univest is 75 Rockefeller
Plaza, Suite 18C, New York, NY 10019.

The address of holder is c/o Univest,
75 Rockefeller Plaza, Suite 18C, New York, NY 10019.

Does not include 40,409 shares of
Series A Preferred Stock owned by Bradley Richmond. Mr. Richmond is a designee of Univest.

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<div align='center'>USE OF PROCEEDS</div>

The Common Stock to be offered and sold using this
prospectus will be offered and sold by the Selling Holders named in this prospectus. Accordingly, we will not receive any proceeds from
any sale of shares of our Common Stock in this offering. However, we will receive