Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 2

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 2
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 to 387,717 Shares of Common Stock

Up to 23,650,743 Shares of Common Stock underlying Pre-Funded Warrants, Series A Warrants,
Series B Warrants and Placement Agent Warrants</div>

We are offering 7,754,342 shares of our common stock, par value $0.001 per share (the “common stock”), together with Series A warrants (the “Series A Warrants”) to purchase 7,754,342 shares of common stock and Series B warrants (the “Series B Warrants” and collectively with the Series A Warrants, the “Common Warrants”) to purchase 7,754,342 shares of common stock, at an assumed combined public offering price of $0.6448 per share together with one Series A Warrant and one Series B Warrant, which is equal to the closing price per share of our common stock on the Nasdaq Capital Market (“Nasdaq”), on June 12, 2025, pursuant to this prospectus. The shares of common stock and Common Warrants will be separately issued but must be purchased together in this offering. Each share of common stock is being sold together with one Series A Warrant to purchase one share of common stock and one Series B Warrant to purchase one share of common stock. Each Common Warrant will have an exercise price of $ per share and will be exercisable beginning on the effective date of stockholder approval of the issuance of the shares upon exercise of the Common Warrants (“Warrant Stockholder Approval” and such date, the “Initial Exercise Date”); provided, however, if the Pricing Conditions (as defined below) are met, the Initial Exercise Date of the Common Warrants shall be the date of issuance thereof. The Series A Warrants will expire on the five-year anniversary of the Initial Exercise Date and the Series B Warrants will expire on the twenty-four-month anniversary of the Initial Exercise Date. As used herein, “Pricing Conditions” means that the combined offering price per share and accompanying Common Warrants is such that Warrant Stockholder Approval is not required under the rules of The Nasdaq Stock Market LLC (the “Nasdaq Rules”) because either (i) the offering is an at-the-market offering under the Nasdaq Rules and such price equals or exceeds the sum of (a) the applicable “Minimum Price” per share under Nasdaq Rule 5635(d) plus (b) $0.125 per whole share of common stock underlying each Common Warrant,