Company: SLNH
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002391
Chunk: 289

Company: Soluna Holdings, Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 289
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 and was agreed upon by both NYDIG and the Borrower, that the total outstanding loan principal balance would be approximately $ 9.2million, in which a penalty fee was applied of approximately $ 1.0million to the repossessed collateralized assets, and outstanding interest and penalty balance would be approximately $ 936thousand as of December 31, 2023. The Company applied the per diem interest rate agreed upon with the summary judgement for the three and nine months ended September 30, 2024 and recorded interest expense of approximately $ 370thousand and $ 1.1million and has an outstanding interest and penalty accrual of approximately $ 1.9million recorded within “Accrued Liabilities” as of September 30, 2024. See Note 9 for further information in relation to the NYDIG litigation matter.

| F-65 |

Navitas term loan

Schedule of Navitas Term Loan

| (Dollars in thousands)                                           
 Term Loan and capitalized interest (excludes debt issuance cost) |     | Maturity Date 
 May 9, 2025   |     | Interest Rate | 15 | % |     | January 1, 2024-   
 September 30, 2024 |  1,707 |   |     | May 9, 2023-      
 December 31, 2023 | 2,254 |   |
|:-----------------------------------------------------------------|:----|:--------------|:----|:--------------|:---|:--|:----|:-------------------|-------:|:--|:----|:------------------|------:|:--|
| Less: principal and capitalized interest payments                |     |               |     |               |    |   |     |                    | (1,409 | ) |     |                   |  (547 | ) |
| Less: debt issuance costs                                        |     |               |     |               |    |   |     |                    |     (6 | ) |     |                   |   (26 | ) |
| Total outstanding debt                                           |     |               |     |               |    |   |     | $                  |    292 |   |     | $                 | 1,681 |   |

On May 9, 2023, DVCC and Navitas West Texas Investments SPV, LLC entered into a 2-year Loan Agreement (“Term Loan”) for $ 2,050,000. The unpaid