Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 288

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 288
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 of credit agreement. As such, the Company recorded $ 39thousand within Prepaid expenses and other current assets and $ 64thousand within Other assets on the condensed balance sheet as of September 30, 2024, in which $ 15thousand has been amortized and recorded within Interest Expense.

| F-66 |

June 2024 secured note and July 2024 additional secured note

Schedule of Secured Note Financing

| (Dollars in thousands)                                           
 Term Loan and capitalized interest (excludes debt issuance cost) |     | Maturity Date 
 June 20, 2027 |     | Interest Rate | 9 | % |     | June 20, 2024-     
 September 30, 2024 | 14,057 |   |
|:-----------------------------------------------------------------|:----|:--------------|:----|:--------------|:--|:--|:----|:-------------------|-------:|:--|
| Less: principal and capitalized interest payments                |     |               |     |               |   |   |     |                    |      - |   |
| Less: debt discount                                              |     |               |     |               |   |   |     |                    |   (280 | ) |
| Less: debt issuance costs                                        |     |               |     |               |   |   |     |                    |   (623 | ) |
| Total outstanding note                                           |     |               |     |               |   |   |     |                    | 13,154 |   |
| (Less) Current note outstanding                                  |     |               |     |               |   |   |     |                    |  5,054 |   |
| Long-term note outstanding                                       |     |               |     |               |   |   |     | $                  |  8,100 |   |

On June 20, 2024, pursuant to the terms and subject to the conditions of a Note Purchase Agreement (the “June SPA”) by and among (i) Soluna AL CloudCo, LLC, a Delaware limited liability company (“CloudCo”), and indirect wholly owned subsidiary of Soluna Holdings, Inc., a Nevada corporation (the “Company”), (ii) Soluna Cloud, Inc., a Nevada corporation, indirect wholly owned subsidiary of the Company, and parent of CloudCo (“Soluna Cloud”), (iii) the Company and (iv) the accredited investor named therein (the “Investor”), CloudCo issued to the