Company: SUNE
Filing Date: 2025-02-27
Form Type: 8-K
Source: 0001213900-25-017658
Chunk: 1

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 8-K
Item: Item 7.01
Chunk 1
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27, 2025. In connection
with the issuance of the share of Series D Preferred Stock, Conduit granted an irrevocable proxy to the Company to vote such share on
as as-converted basis as a single class with the holders of the Company’s common stock. Such share is being held in escrow by legal
counsel to the Company, and upon full payment of the Conduit Loan, the share will be returned to the Company and will be cancelled. The
foregoing summary is qualified by the full text of the Certificate of Designation attached as Exhibit 3.1 to this Current Report on Form
8-K.

ATM Sales

On October 21, 2024, the Company entered into
an At the Market (“ ATM”) Offering Agreement (the “ Sales Agreement”) with Roth Capital Partners, LLC (the “ Sales
Agent”). The Company has authorized the sale, at its discretion, of common stock shares in an aggregate offering amount up to $10,000,000
under the Sales Agreement pursuant to the Company’s effective Registration Statement on Form S-3 (File No. 333-267066), as supplemented
by a prospectus supplement. Through the filing of our last quarterly report on November 14, 2024, we had sold an aggregate of 394,381
shares for gross proceeds of $2,310,547 under the ATM facility. Subsequent to our last periodic report, and through the date of this current
report, we have sold an additional 206,085 shares of common stock for gross proceeds of $509,076 under the ATM facility.

Previously Issued Warrant, Settlement Exchange

As more fully described in our previously filed
periodic reports, on June 28, 2021, the Company (via its predecessor entity, Communications Systems, Inc., “ CSI”) entered
into a securities purchase agreement (“ SPA”) in which, subsequent to the closing of the merger between CSI and Pineapple Energy,
LLC (together and following a series of related transactions ultimately became Pineapple Energy, Inc., “ Pineapple”), the Company
authorized the issuance and sale of shares of Series A Preferred Stock, par value $1.00 per share (“ Series A Preferred Stock”),
together with a warrant (the “ Series A Warrants”), to certain investors in a private offering (“ PIPE Investors”).
On September 15, 2021, the Company amended the SPA to issue thirty-two thousand restricted shares of Series A Preferred Stock,