Company: SUNE
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001213900-25-032666
Chunk: 1

Company: SUNation Energy, Inc.
Filing Date: 2025-04-17
Form: 8-K
Chunk 1
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provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

On April 14, 2025, SUNation Energy, Inc. (the
“Company”) entered into a Secured Revolving Line of Credit Agreement (the “Agreement”) between the Company and
MBB Energy, LLC, a New York limited liability company, pursuant to which the Company may request one or more loans of up to an aggregate
principle amount $1,000,000 under this line of credit for a period of one (1) year (the “Term”) from the date or entry. Any
loans drawn by the Company under this line of credit facility will carry interest on an annualized basis of 8%, payable monthly on the
first day of each month thereafter. MBB Energy, LLC is an affiliate and related party of the Company by virtue of MBB Energy, LLC being
an entity controlled by Scott Maskin. During the Term, the Company may from time to time borrow, repay and reborrow all or part of the
outstanding balance of the loans drawn thereunder on or after the date hereof and prior to the Maturity Date (or April 15, 2026), subject
to the terms, provisions and limitations set forth in the Agreement.

The foregoing description of the Agreement, as well as the Security
Agreement securing any loans made under the Agreement, does not purport to be complete and is qualified in its entirety by reference to
the full text of the Agreement, as well as the Security Agreement related thereto, is filed as Exhibit 10.1 and Exhibit 10. 2, respectively,
to this Current Report on Form 8-K and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under Off-Balance Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 is incorporated
herein by reference.

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

On April 11, 2025 , the Company received a letter (the “Minimum
Bid Price Deficiency Letter”) from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market (“Nasdaq”)
notifying the Company that, for the 30 consecutive business day period immediately preceding deficiency letter, the Company’s