Company: SLNH
Filing Date: 2025-06-16
Form Type: S-1/A
Source: 0001641172-25-015179
Chunk: 48

Company: Soluna Holdings, Inc
Filing Date: 2025-06-16
Form: S-1/A
Chunk 48
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 or arising out of his or her status as such whether or not
the corporation would have the power to indemnify him or her against such liabilities.

Section 78.752 of the NRS provides that a Nevada
company may purchase and maintain insurance or make other financial arrangements on behalf of any person who is or was a director, officer,
employee, or agent of the company, or is or was serving at the request of the company as a director, officer, employee, or agent of another
company, partnership, joint venture, trust, or other enterprise, for any liability asserted against him and liability and expenses incurred
by him in his capacity as a director, officer, employee, or agent, or arising out of his status as such, whether or not the company has
the authority to indemnify him against such liability and expenses.

Our Bylaws provide that the Company shall, to
the fullest extent not prohibited by applicable law, pay the expenses (including attorneys’ fees) incurred by an indemnitee in defending
or otherwise participating in any proceeding in advance of its final disposition.

In addition, we have entered into indemnification
agreements with each of our directors and executive officers. These agreements, among other things, require us to indemnify our directors
and executive officers for certain expenses, including attorneys’ fees, judgments and fines incurred by a director or executive
officer in any action or proceeding arising out of their services as one of our directors or executive officers or any other company or
enterprise to which the person provides services at our request.

We maintain a directors’ and officers’
insurance policy pursuant to which our directors and officers are insured against liability for actions taken in their capacities as directors
and officers. We believe these provisions in the Bylaws and these indemnification agreements are necessary to attract and retain qualified
persons as directors and officers.

Item 15. Recent Sales of Unregistered Securities.

On July 19, 2022, we issued to an accredited investor (i) 62,500 shares of Series B Preferred Stock, and (ii) warrants to purchase up to an aggregate of 1,000,000 shares of common stock (the “July 2022 Warrants”). The shares of Series B Preferred Stock and the July 2022 Warrants were issued without registration under the Securities Act, based on the exemption from registration afforded by Section 4(a)(2) of the Securities Act and/or Rule 506 promulgated thereunder.

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On September 13