Company: SUNE
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0000022701-25-000002
Chunk: 60

Company: SUNation Energy, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 60
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ent value rights Warrant liability Embedded derivative liability Earnout consideration TotalDecember 31, 2023$ (1,691,072) $ — $ — $ (3,500,000) $ (5,191,072)Reclassification from equity  —   (10,592,220)   —   —   (10,592,220)Additions  —   —   (16,664)   —   (16,664)Warrant exercise  —   324,789   —   —   324,789Distribution  856,735   —   —   —   856,735Fair value adjustments  522,257   (974,823)   (65,617)   1,000,000   481,817Reclassification to Level 2           2,500,000   2,500,000Reclassification to equity  —   11,242,254   —   —   11,242,254December 31, 2024$ (312,080) $ — $ (82,281) $ — $ (394,361)  

 84

          Year Ended December 31, 2023 Contingent value rights Earnout consideration TotalDecember 31, 2022$ (7,402,715) $ (2,150,000) $ (9,552,715)Distribution  3,036,677   —   3,036,677Fair value adjustments  2,674,966   (1,350,000)   1,324,966December 31, 2023$ (1,691,072) $ (3,500,000) $ (5,191,072) The estimated fair value of the CVRs as of December 31, 2024 and 2023 was $312,080 and $1,691,072, respectively, as noted above. The Company recorded a $522,257 gain on the fair value remeasurement of the CVRs in 2024 and a $2,674,966 gain on the fair value remeasurement of the CVRs in 2023. The Company paid $856,736 and $3,036,676 in CVR distributions during the 2024 and 2023, respectively.  The estimated fair value of earnout consideration related to the acquisition of SUNation as of December 31, 2024 and 2023 was $