Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 35

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 35
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and contribution rights. During the three months ended June 30, 2025, the Company sold 3,340,663 shares of common stock pursuant to the
ATM Agreement for net proceeds of $2.2 million after deducting sales agent commissions of approximately $88 thousand. The Company has
sold 1,867,824 shares of common stock pursuant to the ATM Agreement subsequent to June 30, 2025 for additional net proceeds of approximately
$1.4 million.

Reservation
of Shares

The
Company had reserved common shares for future issuance as follows as of June 30, 2025:

Schedule of Reserved Shares of Common Stock for Future Issuance 

    Stock
    options outstanding 
     2,645 
  
    Restricted
    stock units outstanding 
     209,885 
  
    Warrants
    outstanding 
     2,347,135 
  
    Common
    stock available for future equity awards or issuance of options 
     1,720,565 
  
    Number
    of common shares reserved 
     4,280,230 

As
noted above in relation to the Series B Preferred Stock, as of June 30, 2025, the Series B Preferred Stock can be converted to 1,250,000
shares of the Company’s common stock at approximately $5.00
per share. The Company also notes that as of June 30, 2025, there are 23,138
Series A preferred stock available for future equity awards under the 2021 Plan.

Loss
per Share

The
Company computes basic loss per common share by dividing net loss by the weighted average number of common shares outstanding during
the reporting period. Diluted loss per share reflects the potential dilution, if any, computed by dividing loss by the combination of
dilutive common share equivalents, comprised of shares issuable under outstanding investment rights, warrants and the Company’s
share-based compensation plans, and the weighted average number of common shares outstanding during the reporting period. Dilutive common
share equivalents include the dilutive effect of in-the-money stock options, which are calculated based on the average share price for
each period using the treasury stock method. Under the treasury stock method, the exercise price of a stock option and the amount of
compensation cost, if any, for future service that the Company has not yet recognized are assumed to be used to repurchase shares in
the current period.

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