Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1434

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1434
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 new Class B warrants exercisable at $20.00.

On
November 20, 2023, the Company and the Noteholders entered into a Third Amendment Agreement to amend the Notes, the October SPA and related
agreements (collectively, the “Transaction Documents”). The aim was to facilitate future financings by the Company that may
include funds for prepayment of the Notes by permitting the Company to force conversion of up to $1.5 million of the Notes under certain
circumstances, reduce the prepayment penalty in return for reducing the conversion price of the $4.7 million of the Notes and reducing
the exercise price of 150,000 of the Warrants to $0.01.

On
February 28, 2024, the Company and the Noteholders entered into a Fourth Amendment Agreement to amend the Notes, SPA and related agreements
to facilitate future financings by the Company. In addition, the Company was permitted to unilaterally extend the maturity date of the
Notes for two 3-Month extensions if prior to the then in effect maturity date the Company gives notice to the Noteholders and increases
the principal amount of the Notes on the date of each such extension by two percent (2%) the principal amount of the Notes outstanding
on the date of such extension.

In
consideration of the foregoing, the Company:

    ●
    Reduced
    the conversion price of the Notes to $3.78 per share;

    ●
    The
    Noteholders received an aggregate of 850,000 three year warrants exercisable at $0.01 per share;

    ●
    An
    aggregate of 320,005 warrants held by the Noteholders had the exercise price reduced to $3.78 per share (the “$3.78 Warrants”);
    and

     F-24 

    ●
    An
    aggregate of 478,951 warrants held by the Noteholders had the exercise price reduced to $6.00 per share (the “$6.00 Repriced
    Warrants”). For every one $6.00 Repriced Warrant exercised by a Purchaser, such Purchaser shall receive 1.36 new five-year
    warrants with an exercise price of $0.01, 1.6 new five-year warrants with an exercise price of $4.20, and 1.6 new five-year warrants
    with an exercise price of $5.70.

In
June