Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 182

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 182
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.50and 80,000new Class B warrants exercisable at $ 20.00. The fair value of the new Class A warrants was $ 4.20and for the new Class B warrants was $ 4.03.

| F-13 |

Any modifications of the warrants were subsequently revalued, including the warrants attached to the Third Amendment on November 20, 2023, see Note 9 for details. Inherent in a Black-Scholes simulation are assumptions related to expected stock-price volatility, expected life, risk-free interest rate and dividend yield. The Company estimates the volatility of its common stock warrants based on implied volatility from its traded warrants and historical volatility of select peers’ common stock with a similar expected term of the Warrants. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield on the grant date with a maturity similar to the expected remaining term of the warrants. The expected term of the warrants is assumed to be equivalent to their remaining contractual term. The dividend rate is based on the historical rate, which the Company expects to remain at zero. The warrants were collectively classified as a Level 3 measurement within the fair value hierarchy because these valuation models involve the use of unobservable inputs relating to the Company’s estimate of its expected stock volatility which was developed based on the historical volatility of a publicly traded set of peer companies.

The following table represents the significant fair
value assumptions used for warrants issued or repriced during the years ended December 31, 2023 and 2022:

Schedule of Fair Value Assumptions For Warrants Issued

|                         |     | 2023 |              |   |     | 2022 |                |   |
|:------------------------|:----|:-----|-------------:|:--|:----|:-----|---------------:|:--|
| Stock price (1)         |     | $    |   2.93- 5.00 |   |     | $    | 14.25 - 259.25 |   |
| Exercise price (1)      |     | $    |  0.01- 20.00 |   |     | $    | 19.00 – 331.50 |   |
| Expected term in years  |     |      |   1.16- 5.00 |   |     |      |    2.00 – 5.00 |   |
| Expected dividend yield |     |