Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 44

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 44
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 “SLNH.” On , 2025, the closing price per share of our common stock was
$ .

Indemnification

We have agreed to indemnify the placement agent
against certain liabilities, including certain liabilities arising under the Securities Act and liabilities arising from breaches of representations
and warranties contained in our engagement letter with the placement agent. We have also agreed to contribute to payments that the placement
agent may be required to make for these liabilities.

In addition, we will indemnify the purchasers
of securities in this offering against liabilities arising out of or relating to (i) any breach of any of the representations, warranties,
covenants or agreements made by us in the securities purchase agreement or related documents or (ii) any action instituted against a purchaser
by a third party (other than a third party who is affiliated with such purchaser) with respect to the securities purchase agreement or
related documents and the transactions contemplated thereby, subject to certain exceptions.

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Regulation M

The placement agent may be deemed to be an underwriter
within the meaning of Section 2(a)(11) of the Securities Act and any fees received by it and any profit realized on the sale of the securities
by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. The placement agent
will be required to comply with the requirements of the Securities Act and the Exchange Act, including, without limitation, Rule 10b-5
and Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of our securities by
the placement agent. Under these rules and regulations, the placement agent may not (i) engage in any stabilization activity in connection
with our securities; and (ii) bid for or purchase any of our securities or attempt to induce any person to purchase any of our securities,
other than as permitted under the Exchange Act, until it has completed its participation in the distribution.

Other Relationships

The placement agent and its affiliates may in
the future engage in investment banking transactions and other commercial dealings in the ordinary course of business with us or our affiliates.
The placement agent may in the future receive customary fees and commissions for these transactions.

In addition, in the ordinary course of their business
activities, the placement agent and its affiliates may make or hold a broad array of investments and actively trade debt and equity securities
(or related derivative securities) for their own account and for the accounts of their customers. Such investments and securities activities
may involve securities