Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 35

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 35
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 under the Securities Act with respect to this prospectus.

We agreed to keep this prospectus effective until
all the shares have been sold or may be sold without any restrictions pursuant to Rule 144, as determined by our counsel pursuant to a
written opinion letter to such effect, addressed and reasonably acceptable to our transfer agent. The shares offered hereunder will be
sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in certain
states, the shares covered hereby may not be sold unless they have been registered or qualified for sale in the applicable state or an
exemption from the registration or qualification requirement is available and is complied with.

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Under applicable rules and regulations under the Exchange
Act, any person engaged in the distribution of the Common Stock may not simultaneously engage in market making activities with respect
to the Common Stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution. In
addition, the Selling Holders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder, including
Regulation M, which may limit the timing of purchases and sales of the Common Stock by the Selling Holders or any other person. We will
make copies of this prospectus available to the Selling Holders and have informed them of the need to deliver a copy of this prospectus
to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).

Also under the Release Agreement, Univest agreed,
during the Leak-Out Period, to not sell such shares in excess of 1/3 of the shares of Common Stock beneficially owned by Univest and its
affiliates on the day immediately prior to the first day of the Leak-Out Period.

On October 1, 2024, the Company and the Series B Holder
entered into that certain Amended and Restated Lock-Up and Leak-Out Agreement (the “Lock-Up and Leak-Out Agreement”), whereby
the Series B Holder agreed, during the period commencing on the effective date of the Lock-Up and Leak-Out Agreement and continuing until
the earlier of (x) the date of termination of such period as elected by the Company and (y) the twelve month anniversary of effectiveness
date by the SEC of the Specified Registration Statement (as defined in the Amendment) to not sell the Series B Shares or the Warrants
in excess of 1/12 of the shares of Common Stock