Company: SLNH
Filing Date: 2025-05-22
Form Type: S-1
Source: 0001641172-25-012098
Chunk: 52

Company: Soluna Holdings, Inc
Filing Date: 2025-05-22
Form: S-1
Chunk 52
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 agreement (the “Placement Agency Agreement”) with Univest Securities, LLC (“Univest”), pursuant to which
Univest agreed to serve as the exclusive placement agent for us in connection with such offering. Pursuant to the Placement Agency Agreement,
we agreed to pay Univest 431,014 restricted shares of common stock in relation to Univest’s role in the underwritten offering that
closed on October 26, 2022 (the “October Shares”). The October Shares were issued without registration under the Securities
Act, in reliance on the exemptions from registration provided by Section 4(a)(2) under the Securities Act.

On May 23, 2023, we entered into a Subscription
and Investment Representation Agreement with David Michaels, our Secretary (the “Subscriber”), and sold to the Subscriber
one share of our Series X Preferred Stock, par value $0.001 per share (the “Series X Preferred Stock”). The offering and sale
of the Series X Preferred Stock was exempt from registration under Section 4(a)(2) of the Securities Act.

On July 28, 2023, we paid a mandatory dividend
on our outstanding Series B Preferred Stock in the amount of $657,223.64. Pursuant to a Dividend Payment Agreement, we and the holder
of the Series B Preferred Stock agreed to satisfy the payment of the dividend through the issuance of 44,000 shares of our common
stock and 70,300 pre-funded warrants. The issuance of the common stock and the pre-funded warrants was exempt from registration
under Section 4(a)(2) of the Securities Act.

On June 20, 2024, pursuant to the terms and subject
to the conditions of the June SPA by and among the Note Parties, CloudCo issued the Note to the Investor. As further inducement for the
June Investor to purchase the Note, Soluna Cloud issued to the Investor a warrant (the “June Warrant”) exercisable for a number
of shares of common stock of Soluna Cloud equal to the sum of (a) 12.5% of Soluna Cloud’s issued and outstanding common stock as
of the date of the June Warrant divided by 0.875, plus (b) 12.5% of each Qualified Issuance (as defined below) divided by 0.875. For purposes
of the June Warrant, “Qualified Issuance” means (y) each issuance of common stock of Soluna Cloud during the