Company: SUNE
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001213900-25-017771
Chunk: 72

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 424B5
Chunk 72
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 available for the payment of dividends. In the event of any liquidation,
dissolution or winding-up of our affairs, holders of common stock will be entitled to share ratably in our assets that are remaining after
payment or provision for payment of all of our debts and obligations.

Holders of common stock have no preemptive, conversion
or subscription rights, and there are no redemption provisions applicable to the common stock.

All outstanding shares of our common stock are
fully paid and nonassessable.

The transfer agent and registrar for our common
stock is Equiniti Trust Company, 1110 Centre Pointe Curve, Suite 101, South St. Paul, Minnesota 55120-4100.

Our common stock is currently listed on The Nasdaq
Stock Market LLC under the trading symbol “PEGY.”

Registration Rights Agreement

In connection with the securities purchase agreement,
we entered into a registration rights agreement dated September 15, 2021 with the selling stockholders. Pursuant to the registration rights
agreement, we agreed to file a registration statement to register for resale common stock issuable upon conversion of the Series A convertible
preferred stock and the common stock issuable upon exercise of the warrants issued pursuant to the securities purchase agreement.

Anti-Takeover Effects of Provisions of Our Amended and Restated Articles of Incorporation, the Restated Bylaws and Minnesota Law

Specific provisions of Minnesota law, our amended
and restated articles of incorporation and restated bylaws may be deemed to have an anti-takeover effect.

Our restated bylaws establish an advance notice
procedure with regard to (i) certain business to be brought before our annual meeting of shareholders and (ii) the nomination by shareholders
of candidates for election as directors.

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Properly Brought Business

Our restated bylaws provide that at the annual
meeting only such business may be conducted as is of a nature that is appropriate for consideration at an annual meeting and has been
either specified in the notice of the meeting, otherwise properly brought before the meeting by or at the direction of our board of directors,
or otherwise properly brought before the meeting by a shareholder who has given timely written notice to our Secretary of the shareholder’s
intention to bring the business before the meeting. To be timely, the notice must be given by such shareholder to our Secretary not less
than 45 days or more than 75 days prior to a meeting date corresponding to the previous year’s annual meeting