Company: SLNH
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001493152-25-026274
Chunk: 11

Company: Soluna Holdings, Inc
Filing Date: 2025-12-05
Form: 424B5
Chunk 11
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 for any of the purposes described in the section of this prospectus supplement titled “Use of Proceeds.” You will be relying on the judgment of our management with regard to the use of these net proceeds, and you will not have the opportunity, as part of your investment decision, to assess whether the net proceeds are being used appropriately. The failure by our management to apply these funds effectively could result in financial losses that could have a material adverse effect on our business, cause the price of our securities to decline and delay the development of our product candidates. Pending the application of these funds, we may invest the net proceeds from this offering in a manner that does not produce income or that loses value.

We may issue additional equity or convertible debt securities in the future, which may result in additional dilution to investors.

To the extent we need to raise additional capital in the future and we issue additional shares of common stock or securities exercisable, convertible or exchangeable for our common stock, our then existing stockholders may experience dilution and the new securities may have rights senior to those of our common stock offered in this offering. The exercise of outstanding stock options and warrants, including those sold in this offering, may also result in dilution of your investment.

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There is no public market for the Series C Warrants or Pre-Funded Warrants being offered by us in this offering.

There is no established public trading market for the Series C Warrants or the Pre-Funded Warrants, and we do not expect a market to develop. In addition, we do not intend to apply to list the Series C Warrants or Pre-Funded Warrants on Nasdaq or any other national securities exchange or other nationally recognized trading system. Without an active market, the liquidity of the Series C Warrants and Pre-Funded Warrants will be limited.

The Series C Warrants and Pre-Funded Warrants are speculative in nature.

The Series C Warrants and Pre-Funded Warrants offered hereby do not confer any rights of common stock ownership on their holders, such as voting rights, but rather merely represent the right to acquire shares of common stock at a fixed price. Specifically, commencing on the date of issuance, holders of the Pre-Funded Warrants may acquire the shares of common stock issuable upon exercise of such warrants at an exercise price of $0.001 per share of common stock, and holders of the Series C Warrants may acquire the shares of common stock issuable upon exercise of such warrants at an exercise price of $1