Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 100

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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679
shares of common stock pursuant to the ATM Agreement subsequent to September 30, 2025 for additional net proceeds of approximately $6.3
million.

The
shares of common stock sold under the ATM Agreement are offered and sold pursuant to the Company’s effective shelf registration
statement on Form S-3 (File No. 333-286638) filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”)
on April 18, 2024 and declared effective by the SEC on April 29, 2025. As of the date of these condensed financial statements, we have approximately $69.7 million of shares of common stock
that are available for issuance under the ATM.

July
2025 Public Offering

On
July 15, 2025, the Company entered into a securities purchase agreement with the purchasers signatory thereto, pursuant to which the
Company sold in a public offering (the “July 2025 Offering”) an aggregate of (i) 8,794,544 shares of common stock (each a
“Share” and collectively, the “Shares”); (ii) pre-funded warrants (the “Pre-Funded Warrants”) to
purchase 296,365 shares of common stock; (iii) Series A warrants (the “Series A Warrants”) to purchase 9,090,909 shares of
common stock; and (iv) Series B warrants (the “Series B Warrants,” and together with the Series A Warrants, the “Common
Warrants”) to purchase 9,090,909 shares of common stock,.

Each
Share or Pre-Funded Warrant was sold together with one Series A Warrant to purchase one Share and one Series B Warrant to purchase one
Share. The combined public offering price for each Share (or Pre-Funded Warrant) and accompanying Common Warrants was $0.55. The Pre-Funded
Warrants have an exercise price of $0.001 per share, are exercisable immediately upon issuance and will expire when exercised in full.
Each Common Warrant has an exercise price of $0.55 per share and is exercisable immediately upon issuance. The Series A Warrants will
expire on the five-year anniversary of the initial exercise date and the Series B Warrants will expire on the twenty-four-month anniversary
of the initial exercise date.

The
net proceeds of the July 2025 Offering, after deducting the fees and expenses of the placement agent, and