Company: SUNE
Filing Date: 2025-08-18
Form Type: 424B5
Source: 0001213900-25-078001
Chunk: 21

Company: SUNation Energy, Inc.
Filing Date: 2025-08-18
Form: 424B5
Chunk 21
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 our as adjusted net tangible book value as of June 30, 2025 would have been approximately $22.4 million, or approximately
$0.98 per share. This represents an immediate increase in net tangible book value of approximately $2.88 per share of common stock to
our existing stockholders and an immediate dilution in net tangible book value of approximately $0.57 per share to purchasers of our
common stock in this offering, as illustrated by the following table:

| Assumed Public offering price per share                                            
 Historical net tangible book value per share at June 30, 2025                      |     |   | (1.89 | ) |     |   | 1.66 |
|:-----------------------------------------------------------------------------------|:----|:--|------:|:--|:----|:--|-----:|
| Increase in net tangible book value per share after giving effect to this offering |     | $ |  2.93 |   |     |   |      |
| As adjusted net tangible book value per share after this offering                  |     |   |       |   |     | $ | 1.04 |
| Dilution per share to new investors in this offering                               |     |   |       |   |     | $ | 0.62 |

Based on 3,406,614 shares of common stock outstanding
as of June 30, 2025. and excludes the following:

| ● | 63                                                                         
 shares of Common Stock issuable pursuant to our 2022 Equity Incentive Plan |

| ● | 2                                                                                 
 shares of Common Stock issuable pursuant to our 2022 Employee Stock Purchase Plan |

| ● | 2                                                                          
 shares of Common Stock issuable pursuant to our SUNation Inducement Grants |

This information is supplied
for illustrative purposes only, and will adjust based on the actual offering prices, the actual number of shares that we offer and sell
in this offering and other terms of each sale of shares in this offering.

<div align='center'>S-8

DIVIDEND POLICY</div>

We have never declared or paid any cash dividends
on our capital stock. We currently intend to retain any future earnings and do not expect to pay any dividends in the foreseeable future.
Any future determination to declare cash dividends will be made at the discretion of our Board of Directors, subject to applicable laws,
and will depend on a number of factors, including our financial condition, results of operations, capital requirements,