Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 229

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 229
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’ prior notice from the holder to the Company) or decrease such percentages, provided that in no event such percentage exceeds 4.99%.

| F-33 |

Reservation of Shares

The Company had reserved common shares for future issuance as follows as of December 31, 2023:

Schedule of Reserved Shares of Common Stock for Future Issuance

| Stock options outstanding (1)                      |     |    52,393 |
| Restricted stock units outstanding (1)             |     |     9,612 |
| Warrants outstanding (1)                           |     | 1,148,269 |
| Common stock available for future equity awards or 
 issuance of options (1)                            |     |   523,716 |
| Number of common shares reserved                   |     | 1,733,990 |

| (1) | Prior                                                                                                                                 
 period results have been adjusted to reflect the Reverse Stock Split of the Common Stock at a ratio of 1-for-25 that became effective 
 October 13, 2023. See Note 2, “Accounting Policies,” for details.                                                                     |

The Company also notes that as of December 31, 2023, there are 1,907,188Series A preferred stock available for future equity awards under the 2021 Plan.

Placement Agent Agreements

On September 13, 2022, the Company entered into a placement agent agreement with Univest Securities LLC (“Univest”) in which all of the 19,464outstanding warrants held with Univest which were earned through previous equity offerings would be revised to a new exercise price value of $ 108.25per warrant.

Additionally, on December 2, 2022, the Company entered into an additional placement agency agreement with, pursuant to which Univest agreed to serve as the exclusive placement agent for the Company on a reasonable best-efforts basis in connection with the December Offering. Pursuant to the additional Placement Agency Agreement, the Company agreed to pay to Univest (i) a fee in shares of Common Stock equal to 7% of the Shares issued and sold in the Offering (excluding any securities that may be issued pursuant to the Options or upon exercise of the Warrants) (the “ Placement Agent Shares”), (ii) 17,241restricted shares of Common Stock in relation to Univest’s role in the underwritten offering that closed on October 26, 2022 (the “ October Shares”), and (iii) an additional fee of warrants to purchase the number of