Company: SLNH
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001493152-25-026274
Chunk: 56

Company: Soluna Holdings, Inc
Filing Date: 2025-12-05
Form: 424B5
Chunk 56
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| ● | we deliver to the trustee                                                                                                      
 an officers’ certificate and opinion of counsel stating that the transaction complies with the foregoing requirements and that 
 all conditions precedent provided for in the indenture relating to the transaction have been complied with.                    |

In such event, the successor will be substituted for us, and thereafter all of our obligations under the relevant indenture, the debt securities and any coupons will terminate.

The indentures provide that these limitations shall not apply if our Board makes a good faith determination that the principal purpose of the transaction is to change our state of incorporation.

| 20 |

Exchange of Debt Securities

Registered debt securities may be exchanged for an equal aggregate principal amount of registered debt securities of the same series and date of maturity in such authorized denominations as may be requested upon surrender of the registered debt securities at an agency of the Company maintained for such purpose and upon fulfillment of all other requirements of such agent.

Default and Remedies

Unless the securities resolution or supplemental indenture establishing the series otherwise provides (in which event the prospectus supplement will so state), an “Event of Default” with respect to a series of debt securities will occur if:

| (1) | we default in any payment                                                                                                         
 of interest on any debt securities of such series when the same becomes due and payable and the default continues for a period of 
 30 days;                                                                                                                          |

| (2) | we default in the payment                                                                                                            
 of all or any part of the principal and premium, if any, of any debt securities of such series when the same becomes due and payable 
 at maturity or upon redemption, acceleration or otherwise and such default shall continue for five or more days;                     |

| (3) | we default in the performance                                                                                                   
 of any of our other agreements applicable to the series and the default continues for 30 days after the notice specified below; |

| (4) | a court of competent jurisdiction                                           
 enters an order or decree under any Bankruptcy Law (as defined below) that: |

| (A) | is for relief against us                                                                           
 in an involuntary case,                                                                            |
| (B) | appoints a Custodian (as                                                                           
 defined below) for us or for any substantial part of our property, or                              |
| (C) | orders the winding up or                                                                           
 liquidation of us, and the order or decree remains unstayed and in effect for 90 consecutive days; |

| (5) | we, pursuant to or within          
 the meaning