Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 162

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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    for the issuance to the Investor of penny warrants to purchase shares of the Company’s common stock. The number of penny warrants
    (exercise price at $0.01) shall equal $1.25 million divided by the 5-day VWAP of the Company’s common stock at time of issuance.
    The warrants will be issued at the time the Investor removes its lien on the property of the Company. As of November 14, 2025, the
    lien has not yet been removed and the warrants have not been issued,

    (iii)
    amend
    the payment schedule of the Note to provide (a) for each of the six scheduled payments occurring after the earlier of the effectiveness
    of a registration statement for the resale of the Escrow Shares and the Conversion Shares (as defined below) or the date that the
    Escrow Shares and the Conversion Shares may be sold pursuant to Rule 144 under the Securities Act of 1933, as amended (the “Securities
    Act”), without any information requirements, the amount of principal and interest payable on such date shall be reduced by
    50% (the aggregate amount of the six months of such reductions, the “Specified Amount”) and (b) if the aggregate amount
    of payments on the Amended Note applied from the proceeds of the sale of the Escrow Shares on or prior to the last six scheduled
    payments is less than the Specified Amount (such difference, the “Make Whole Amount”), than the amount of each of the
    remaining scheduled payments shall be increased by an amount equal to the Make Whole Amount divided by the number of remaining scheduled
    payments,

    (iv)
    modify
    the Note such that the Note is now convertible into up to 2,500,000 shares of the Company’s common stock based (“Conversion
    Shares”) on a conversion price of $5.00,

    (v)
    amend
    the Note to provide that the Company will be a direct co-obligor with CloudCo under the Note; and

    (vi)
    amend
    the SPA to allow the Company to organize or incorporate any subsidiary, over which the Company shall have voting or beneficial control,
    which is being formed with the intent to engage in a business or line of business substantially similar to that of Soluna Cloud or
    the Company, without first paying all of the principal and interest due under the Note and without first obtaining Investor’s
    prior written consent (