Company: SUNE
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029179
Chunk: 64

Company: SUNation Energy, Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 64
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 sale by such converting holder of
the conversion shares, we will have an obligation to make a cash payment and, that the converting holder’s option, to issue shares
to that holder. The cash obligation will be equal to the amount, if any, by which (x) such holder’s total purchase price (including
any brokerage commissions) for the common stock so purchased exceeds (y) the product of (1) the aggregate number of shares of common stock
that such holder was entitled to receive from the conversion at issue multiplied by (2) the actual sale price at which the sell order
giving rise to such purchase obligation was executed (including any brokerage commissions). If the converting holder requires us to issue
shares, then we must either reissue (if surrendered) the shares of Series A convertible preferred stock equal to the number of shares
of Series A convertible preferred stock submitted for conversion (in which case, such conversion will be deemed rescinded) or deliver
to such holder the number of shares of common stock that would have been issued if we had timely complied with its delivery requirements.

If after the 10th trading day following the effective
date of the registration statement for the conversion shares, the volume weighted average price (VWAP) for each trading day during any
10 consecutive trading day period exceeds 200% of the then effective conversion price and the daily dollar trading volume for our common
stock exceeds $5 million on each trading day during this period, we may require each holder to convert all or part of such holder’s
Series A convertible preferred stock plus all accrued but unpaid dividends thereon and all liquidated damages and other amounts due in
respect of the Series A convertible preferred stock. For any shares of Series A convertible preferred stock that remain unconverted and
outstanding because of the beneficial ownership limitation, we may elect to repurchase all or a portion of such unconverted shares from
each such holder at a price per unconverted share of Series A convertible preferred stock equal to the quotient obtained by dividing the
stated value by the then-current conversion price and then multiplying such quotient by the greater of (i) the closing sale price of the
common stock on the date of the forced conversion and (ii) the closing sale price of the common stock as of the trading day immediately
prior to the date of the notice of repurchase.

If there is any Fundamental Transaction (as defined
in the CoD) while the Series A convertible preferred stock is outstanding, then, upon any subsequent conversion of