Company: SLNH
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001493152-25-026274
Chunk: 52

Company: Soluna Holdings, Inc
Filing Date: 2025-12-05
Form: 424B5
Chunk 52
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 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 owner, directly or indirectly, of ten percent or more of the voting power of the outstanding
voting shares of the corporation, or (2) an affiliate or associate of the corporation and at any time within the two previous years was
the beneficial owner, directly or indirectly, of ten percent or more of the voting power of the then outstanding shares of the corporation.
The definition of the term “combination” is sufficiently broad to cover most significant transactions between a corporation
and an “interested stockholder.” These statutes generally apply to Nevada corporations with 200 or more stockholders of record.
However, a Nevada corporation may elect in its articles of incorporation not to be governed by these particular laws, but if such election
is not made in the corporation’s original articles of incorporation, the amendment (1) must be approved by the affirmative vote
of the holders of stock representing a majority of the outstanding voting power of the corporation not beneficially owned by interested
stockholders or their affiliates and associates, and (2) is not effective until 18 months after the vote approving the amendment and
does not apply to any combination with a person who first became an interested stockholder on or before the effective date of the amendment.
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