Company: SUNE
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001213900-25-033892
Chunk: 47

Company: SUNation Energy, Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 47
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 delivering to us a duly executed exercise notice accompanied by payment in full
in immediately available funds for the number of shares of our common stock purchased upon such exercise (except in the case of a cashless
exercise as described below), subject to certain beneficial ownership limitations. No fractional shares of common stock will be issued
in connection with the exercise of a Series A Warrant. In lieu of fractional shares, we will pay the holder an amount in cash equal to
the fractional amount multiplied by the exercise price.

Duration and Exercise Price. The initial
exercise price per whole share of our common stock purchasable upon the exercise of the Series A Warrants is $46 per share of common stock.
The Series A Warrants may be exercised for a period expiring 5 years from the initial issuance date.

If, while the Series A Warrants are outstanding,
we issue or sell, or are deemed to have issued or sold, any common stock and/or common stock equivalents other than in connection with
certain exempt issuances, at a purchase price per share less than the exercise price of the Series A Warrants in effect immediately prior
to such issuance or sale or deemed issuance or sale, then simultaneously with the consummation (or, if earlier, the announcement) of each
such issuance or sale or deemed issuance or sale, the exercise price of the Series A Warrants then in effect will be reduced to an amount
equal to the new issuance price, and the number of shares issuable upon exercise will be proportionately adjusted such that the aggregate
price will remain unchanged, provided that, the adjusted exercise price shall not be less than twenty percent of the “Minimum Price”
under Nasdaq rules (subject to adjustment for reverse and forward stock splits, recapitalizations and similar transactions following the
issue date of the Series A Warrants (the “Issue Date”)).

Provided the lowest volume weighted average price
(“VWAP”) of the common stock during the period commencing five consecutive trading days immediately preceding the Issue Date
and ending five consecutive trading days immediately after the Issue Date (the “Event Market Price”) (such period, subject
to the terms of the related warrant agreement, shall be the “Issue Date Adjustment Period”) is less than the exercise price
then in effect, then at the close of trading on the primary trading market on the last day of the Issue Date Adjustment Period, the exercise
price then in effect on such fifth trading day shall be reduced to the Event Market Price and the number of