Company: SUNE
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001213900-25-017771
Chunk: 25

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 424B5
Chunk 25
---
 first closing. Assuming the consummation of the second closing of the offering, we estimate that the net proceeds
to us from the second closing of this offering will be $4.6 million after deducting placement agent fees and other estimated offering
expenses payable by us for related to such second closing.

We intend to use the net proceeds from this offering
for working capital and other general corporate purposes, and to repay certain outstanding debt obligations, including but not limited
to senior and junior secured debt of the Company.

Investors must rely on the judgment of our management,
who will have broad discretion regarding the application of the remaining net proceeds of this offering. Our stockholders may not agree
with the manner in which our management chooses to allocate and spend the net proceeds. The amounts and timing of our actual expenditures
will depend upon numerous factors, including market conditions, cash generated by our operations, business developments and the rate of
our growth. We may find it necessary or advisable to use portions of the proceeds of this offering for other purposes. Pending these uses,
we intend to invest the net proceeds of this offering in a money market or other interest-bearing account.

<div align='center'>S-10

DILUTION</div>

If you invest in our securities
in this offering, your interest will be diluted immediately to the extent of the difference between the public offering price paid by
the purchasers of the shares of common stock (and Pre-Funded Warrants) and related common warrants sold in this offering and the as adjusted
net tangible book value per shares of common stock after this offering.

The net tangible book value
of our common stock on September 30, 2024, was approximately $(21.1) million, or approximately $(22.43) per share of common stock. We
calculate net tangible book value per share by dividing the net tangible book value, which is tangible assets less total liabilities,
by the number of outstanding shares of our common stock.

Dilution represents the difference
between the amount per share paid by purchasers in this offering and the as adjusted net tangible book value per share of common stock
after the offering. After giving effect to the sale of shares of common stock and common stock issuable under the Pre-Funded Warrants,
at a public offering price of $1.15 per share, which was the closing price of our common stock as reported on Nasdaq on February 26, 2025,
and after deducting placement agent commissions and estimated offering expenses payable by us, but without