Company: SLNH
Filing Date: 2025-04-18
Form Type: POS AM
Source: 0001641172-25-005429
Chunk: 7

Company: Soluna Holdings, Inc
Filing Date: 2025-04-18
Form: POS AM
Chunk 7
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  1 |
| THE OFFERING                                         |  8 |
| THE STANDBY EQUITY PURCHASE AGREEMENT                |  9 |
| RISK FACTORS                                         | 14 |
| CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS | 15 |
| SELLING HOLDERS                                      | 16 |
| USE OF PROCEEDS                                      | 18 |
| PLAN OF DISTRIBUTION                                 | 19 |
| DESCRIPTION OF CAPITAL STOCK                         | 21 |
| LEGAL MATTERS                                        | 29 |
| EXPERTS                                              | 30 |
| WHERE YOU CAN FIND MORE INFORMATION                  | 31 |
| INCORPORATION OF CERTAIN INFORMATION BY REFERENCE    | 32 |

| i |

<div align='center'>ABOUT THIS PROSPECTUS</div>

This prospectus forms part of a registration statement
that we filed with the SEC, and that includes exhibits that provide more detail of the matters discussed in this prospectus. You should
read this prospectus and the related exhibits filed with the SEC, together with the additional information described under the headings
“Where You Can Find More Information” and “Incorporation of Certain Information by Reference”, before
making your investment decision.

You should rely only on the information provided in
this prospectus or in a prospectus supplement or any free writing prospectuses or amendments thereto. Neither we, nor the Selling Holders,
have authorized anyone else to provide you with different information. If anyone provides you with different or inconsistent information,
you should not rely on it. You should assume that the information in this prospectus is accurate only as of the date hereof. Our business,
financial condition, results of operations and prospects may have changed since that date.

Neither we, nor the Selling Holders, are offering
to sell or seeking offers to purchase these securities in any jurisdiction where the offer or sale is not permitted. We have not done
anything that would permit this offering or possession or distribution of this prospectus in any jurisdiction where action for that purpose
is required, other than in the United States. Persons outside the United States who come into possession of this prospectus must inform
themselves about, and observe any restrictions relating to, the offering of the securities as to distribution of the prospectus outside
of the United States.

| ii |

<div align='center'>PROSPECTUS SUMMARY</div>

This summary highlights information contained elsewhere in this prospectus. This summary does not contain all of the information that