Company: SUNE
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001213900-25-001403
Chunk: 12

Company: SUNation Energy, Inc.
Filing Date: 2025-01-07
Form: 424B5
Chunk 12
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 into Pineapple Energy, with Pineapple Energy surviving the merger as a wholly-owned subsidiary of Pineapple Holdings, Inc. (the “Merger”).

Pineapple Holdings, Inc. issued Contingent Value Rights, or “CVRs”, prior to the closing of the Merger, to shareholders of record of Communications Systems, Inc. (“CSI”) on the close of business on March 25, 2022. The CVR entitles the holder to a portion of the cash, cash equivalents, investments and net proceeds of any divestiture, assignment, or other disposition of all legacy assets of CSI and/or its legacy subsidiaries, JDL and Ecessa that are related to CSI’s pre-merger business, assets, and properties that occurred during the period following the closing of the Merger and ending initially on March 28, 2024, but was extended through December 31, 2024 by the First Amendment to the Contingent Value Rights Agreement entered into on March 27, 2024. In November 2024, we distributed to the holders of its non-transferable CVRs a payment of $850,269, or $0.35 per CVR. On December 30, 2024, the CVR payment period was extended from December 31, 2024 to December 31, 2025 to allow the further disposition, assignment, divestiture or other sale of any remaining legacy assets.

Non-Essential Subsidiary Dissolutions

Pursuant to the terms of the Merger Agreement, subsequently thereto, the Company has sold substantially all of the (non-essential) assets related to each of JDL Technologies, Inc. (“JDL”) and Ecessa Corporation (“Ecessa”). As a result of the disposition of the respective assets of JDL and Ecessa, the Company has determined to consummate the dissolution of these two entities, as they no longer have a business purpose to the Company, and for the beneficial cost savings to the Company moving forward.

You may obtain copies of those documents as described below under the heading “Where You Can Find More Information” and “Incorporation of Certain Information by Reference” in this prospectus supplement.

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THE OFFERING

| Issuer                                      |     | SUNation                                                                                                                               
 Energy, Inc.                                                                                                                           |
| Common                                      
 Stock offered by us                         |     | Shares                                                                                                                                 
 of our Common Stock having