Company: SLNH
Filing Date: 2025-11-17
Form Type: 424B3
Source: 0001493152-25-023884
Chunk: 17

Company: Soluna Holdings, Inc
Filing Date: 2025-11-17
Form: 424B3
Chunk 17
---
| Name of Selling Stockholder  |     | Shares Beneficially Owned prior to Offering(1) |           |    |     | Shares Offered by this Prospectus |           |    |     | Shares Beneficially Owned after Offering |   |     | Percentage of Shares Beneficially Owned after Offering(2) |   |
| GreenCloud Partners, LLC (3) |     |                                                | 3,500,000 | -4 |     |                                   | 3,500,000 | -4 |     |                                          | 0 |     |                                                           | - |

(1)Calculated in accordance with Rule 13(d)(3) under the Exchange Act, which includes all options and warrants owned by the holder which are exercisable within 60 days of October 15, 2025.

(2)Based upon 68,265,626 shares of our common stock outstanding on October 22, 2025.

(3)The registered holder of such shares is Northland Securities, Inc. As control person of such shares, David Altshuler may be deemed to possess voting and dispositive power over the shares. The address of the Selling Stockholder is c/o Dinse P.C., 209 Battery Street, P.O. Box 988, Burlington, Vermont 05402-0988.

(4)Includes: (i) 1,000,000 Common Shares, and (ii) up to 2,500,000 Conversion Shares.

| 10 |

<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 Stockholder named in this prospectus. We will not receive any proceeds from any sale of the Conversion Shares in this offering. The net proceeds from dispositions of the Common Shares (i) at a price of up to $4.00 per share, shall be applied to reduce the outstanding principal balance of the Note, and (ii) at a price greater than $4.00 per share, shall be applied first to reduce the outstanding principal balance of the Note in an amount equal to $4.00 per share of our common stock and then to the Selling Stockholder. We will pay all of the fees and expenses incurred by us in connection with this registration.

| 11 |

<div align='center'>PLAN OF DISTRIBUTION</div>

The Selling Stockholder of the common stock and any of its pledgees, assignees and successors-in-interest may