Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 168

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 168
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0 
     14.24% 
    $5,500 
  
    Tranche A-3 

     7,124 
  
    Total drawn loan 

     12,624 
  
    Less: principal payments 

     - 
  
    Less: debt discount and
    issuance costs 

     (1,839)
  
    Total outstanding note 

     10,785 
  
    (Less) Current note outstanding 

     5,876 
  
    Long-term note outstanding 

    $4,909 

    20

On
September 12, 2025, the Company caused its subsidiaries Soluna DVSL ComputeCo, LLC (“Dorothy 1A Borrower”), Soluna DVSL II
ComputeCo, LLC (“Dorothy 2 Borrower”), and Soluna KK I ComputeCo, LLC (“Tranche B Borrower” and collectively
with Dorothy 1A Borrower and Dorothy 2 Borrower, the “Borrowers”) to enter into a Credit and Guaranty Agreement (the “Credit
Agreement”) with Generate Lending, LLC, as administrative agent and collateral agent (the “Agent”), and Generate Strategic
Credit Master Fund I-A, L.P. (the “Lender”). The Credit Agreement provides for senior secured term loan commitments in an
aggregate principal amount of up to $35.5
million, comprised of (i) Tranche
A-1 ($5.5
million), (ii) Tranche A-3 ($11.5
million), and (iii) Tranche B ($18.5
million). In addition, the Credit
Agreement permits the Borrowers to request one or more Additional Tranche Loan Commitments (as defined in the Credit Agreement), in the
aggregate amount of up to $64.5
million, subject to the approval of
the Lender and the Agent, for project-level financing of eligible projects. On September 12, 2025, the Borrowers borrowed approximately
$12.6
million under the Credit Agreement,
comprised of Tranche A-1 loans and Tranche A-3 loans. The Company can draw upon Tranche B from September 12, 2025 until October 31, 2026,
subject to the conditions set forth in the Credit Agreement. The maturity date for the Tranche A and Tranche B loans is the earlier of
(i) payment of outstanding