Company: SUNE
Filing Date: 2025-02-28
Form Type: PRE 14A
Source: 0001140361-25-006563
Chunk: 15

Company: SUNation Energy, Inc.
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 15
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 and the Board effects one, the number of shares of Common Stock issued and outstanding will be reduced, depending upon the ratio determined by the Board. The Reverse Stock Split will affect all holders of our Common Stock uniformly and will not affect any stockholder’s percentage ownership interest in the Company, except that as described below in “Fractional Shares,” record holders of Common Stock otherwise entitled to a fractional share as a result of the Reverse Stock Split because they hold a number of shares not evenly divisible by the Reverse Stock Split ratio will automatically be entitled to receive an additional fraction of a share of Common Stock to round up to the next whole share. For those stockholders who hold shares with a brokerage firm, the Company will round up fractional shares at the participant level. The Reverse Stock Split will not affect any stockholder’s proportionate voting power (subject to the treatment of fractional shares). The Reverse Stock Split will not change the terms of the Common Stock. After the Reverse Stock Split, the shares of Common Stock will have the same voting rights and rights to dividends and distributions and will be identical in all other respects to the Common Stock now authorized. Our outstanding shares of Common Stock will remain fully paid and non-assessable. After the effective time of the Reverse Stock Split, we will continue to be subject to the periodic reporting and other requirements of the Exchange Act. The Reverse Stock Split, if implemented, will not affect the total authorized number of shares of our preferred stock or the par value of our preferred stock. The following table illustrates the effects of a 1-for-5 to 1-for-200 Reverse Stock Split (without giving effect to the treatment of fractional shares), based on share information as of February 27, 2025:

|                               |     | Shares of Common Stock |     |                       |     |                |
|                               |     |             Issued and 
         Outstanding(1) |     |        Issuable Under 
              Existing 
 Arrangements(1)(2)(3) |     | Authorized for 
    Issuance(1) |
| Pre-Reverse Stock Split       |     |              4,943,587 |     |           798,919,523 |     |     25,000,000 |
| 1-for-5 Reverse Stock Split   |     |                988,718 |     |           159,783,905 |     |      5,000,000 |
| 1-for-50 Reverse Stock Split  |     |                 98,872 |