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

Company: SUNation Energy, Inc.
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 25
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 the exercise price shall not be less than 20% of the “Minimum Price” as defined under Nasdaq’s rules (the “Floor Price”). Simultaneously with any adjustment to the Exercise price, the number of Warrant Shares that may be purchased upon exercise of such Warrants shall be adjusted proportionately, so that after such adjustment the aggregate Exercise Price payable pursuant to the Warrants for the adjusted number of Warrant Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment, provided that the maximum number of Warrant Shares payable upon exercise of the Warrants shall be equal to the quotient obtained by dividing the original aggregate exercise price of the Series A Warrant or the Series B Warrant, respectively, on the Issuance Date by the Floor Price.

Issue Date Adjustment . If the lowest volume weighted average price of our Common Stock during the period from five trading days immediately preceding the Issuance Date of the Series A Warrants and the Series B Warrants, respectively, and ending five trading days immediately after the Issuance Date is less than the exercise price of the Series A Warrants or the Series B Warrants (“Event Market Price”), respectively, then the exercise price will be reduced to the Event Market Price, provided, however, the adjusted exercise price shall not be less than the Floor Price. However, if such adjustment would otherwise result in an increase in the exercise price thereunder, no adjustment shall be made.

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#### TABLE OF CONTENTS
Warrant Stockholder Approval . Under applicable Nasdaq listing rules, the second closing will not occur and the Series A Warrants, the Series B Warrants and certain shares of Common Stok or Pre-Funded Warrants will not be issued unless we obtain the approval of our stockholders under this Proxy. While we intend to promptly seek stockholder approval, there is no guarantee that the Warrant Stockholder Approval will ever be obtained. If we are unable to obtain the Warrant Stockholder Approval, the second closing will not occur, resulting in the Company not receiving $5.0 million in gross proceeds from the Offering, and the Series A Warrants and the Series B Warrants will not be issued. In addition, we will incur substantial cost, and management will devote substantial time and attention, in attempting to obtain the Warrant Stockholder Approval.

Transferability . Subject to applicable laws, surrender of initial warrant and delivery of a written assignment form thereto, the Warrants may be offered for sale, sold