Company: SUNE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0001140361-25-007723
Chunk: 5

Company: SUNation Energy, Inc.
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 5
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, shares of Common Stock underlying the Warrants and certain provisions of the Warrants under Proposal 3. |

| • | The Board of Directors named in this proxy statement recommends a vote FOR one or more adjournments, if necessary, under Proposal 4. |

What happens if we fail to obtain the approval of the Authorized Share Increase Proposal, the Reverse Stock Split Proposal and the Issuance Proposal (collectively, the “Approvals”)? If we do not obtain all of the Approvals at this meeting, we will call a meeting every sixty (60) days thereafter until such time that Approvals are obtained. What are the voting rights of the shareholders? Only holders of shares of Common Stock, as well as any holder of our outstanding Series D Convertible Preferred stock (which shall vote on an as converted basis as a single class with the Common Stock) on the record date are entitled to one vote per share on all matters properly brought before the Special Meeting; however, shareholders on the record date who participated in and purchased securities in the Company’s Offering that closed on February 27, 2025 (related to Issuance Proposal) may not vote their shares purchased in such Offering with respect to Proposal 3, but such holders may vote on all other proposals set forth in this Proxy Statement. Therefore, a total of 2,828,587 votes are entitled to be cast at the meeting with respect to the Issuance Proposal (Proposal 3), and a total of 4,793,587 votes are entitled to be cast at the meeting with respect to all other proposals (Proposals 1, 2 and 4), in each case inclusive of the Series D convertible preferred stock shares on the record date. Who is entitled to vote at the meeting? If you were a shareholder of record at the close of business on February 27, 2025 (the “record date”), you are entitled to vote at the Special Meeting or any adjournments thereof, including any holder of Series D Convertible Preferred Stock, who may vote on an as converted basis as a single class with the Common Stock. As of the record date, 2,428,587 shares of Common Stock and one share of Series D Convertible Preferred Stock (which preferred stock is convertible to common stock equal to 400,000 additional voting shares) are outstanding and eligible to vote on Proposal 3, and 4,393,587 shares of Common Stock and one share of Series D Convertible Preferred Stock (which preferred stock is