Company: SLNH
Filing Date: 2025-02-03
Form Type: S-1/A
Source: 0001493152-25-004555
Chunk: 322

Company: Soluna Holdings, Inc
Filing Date: 2025-02-03
Form: S-1/A
Chunk 322
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4, with the Noteholders and the Series B Holder as described below, satisfying the conditions precedent related to third parties to access the SEPA. Access to the SEPA remains subject to effectiveness of the Registration Statement, which the Company anticipates filing with the Securities and Exchange Commission, and other customary conditions.

Agreements with Convertible Noteholders

Master Consent Agreement

The Company entered into a Consent, Waiver, and Mutual Release Agreement (the “Master Consent”) on October 1, 2024 with the Noteholders that are parties to a Securities Purchase Agreement, dated October 25, 2021, as amended (the “SPA”), pursuant to which, among other things, the Company has issued convertible notes to various institutional investors (together with their respective agents, the “Purchasers”). The Master Consent provides the following from the Purchasers:

| ● | consent                                                                               
 to the Company’s entry into the SEPA and the Payment Agreements (as described below); |
| ● | waiver                                                                                
 of any rights of first refusal or participation rights in connection with the SEPA;   |
| ● | standstill                                                                            
 of the rights to exercise certain $0.01 warrants pursuant to the SPA;                 |
| ● | the                                                                                   
 right to prepay the convertible notes with a 20% premium;                             |
| ● | termination                                                                           
 of the SPA and related agreements upon the full payoff of the convertible notes; and  |
| ● | mutual                                                                                
 limited release of claims between the Purchasers and the Company.                     |

In return for these consents, the Company agreed to pay the Purchaser agents a $ 750thousand waiver fee and to prepay to the Purchasers the 20% premium for the prepayment of the Notes of approximately $ 625thousand.

Payment Agreements

The Company entered into payment agreements with the Purchasers in connection with the SEPA (the “Payment Agreements”), pursuant to which the Company and the Purchasers agreed to permit the full or partial prepayment of any outstanding convertible note balances held by the Purchasers at any time with five business days’ notice.

Assignment and Assumption Agreements

Soluna AL CloudCo, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“CloudCo”), Soluna Cloud, Inc, an indirect wholly-owned subsidiary of the Company (“Soluna Cloud”) and the Company have entered into assignment and assumption agreements (the “Assignment Agreements”) on October 1, 2024 with one of the Purch