Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 217

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 217
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 paid both outstanding note payable balances of approximately $ 235thousand plus a 20% prepayment fee of approximately $ 47thousand. With the prepayment of the notes payable, the Company incurred a $ 33thousand loss on debt extinguishment. As of the December 31, 2023, the Company has fulfilled the two note payable agreements.

NYDIG Financing

Schedule of Financing Debt

| (Dollars in thousands)                      
 NYDIG Loans #1-11                           |     | Maturity Dates                        
 April 25, 2023 thru January 25, 2027* |     | Interest Rate 
 12% thru 15%  |     | December 31, 
 2023         | 10,546 |   |     | December 31, 
 2022         | 14,387 |   |
|:--------------------------------------------|:----|:--------------------------------------|:----|:--------------|:----|:-------------|-------:|:--|:----|:-------------|-------:|:--|
| Less: principal payments                    |     |                                       |     |               |     |              |      — |   |     |              | (3,841 | ) |
| Less: repossession of collateralized assets |     |                                       |     |               |     |              | (1,363 | ) |     |              |      - |   |
| Total outstanding debt                      |     |                                       |     |               |     | $            |  9,183 |   |     | $            | 10,546 |   |

| * | Due                                                                             
 to event of default- the entire NYDIG Financing became current, see note below. |

On December 30, 2021, Soluna MC Borrowing 2021-1 LLC (the “Borrower”), an indirect wholly owned subsidiary of the Company entered into a Master Equipment Finance Agreement (the “Master Agreement”) with NYDIG ABL LLC (“NYDIG”) as lender, servicer and collateral agent (the “NYDIG facility”). The Master Agreement outlined the framework for a financing up to approximately $ 14.4million in aggregate equipment financing. Subsequently, the parties negotiated the specific terms of each equipment financing transaction as well as the terms upon which the Noteholders would consent to the transactions contemplated by the Master Agreement.

On January 14, 2022, the Borrower effected an initial drawdown under the Master Agreement in the aggregate principal amount of