Company: SUNE
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001213900-25-033892
Chunk: 21

Company: SUNation Energy, Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 21
---
3,364,000 shares of
common stock outstanding (excluding exercise of any remaining outstanding warrants).

Authorized but Unissued Preferred Stock

Unless required by law or by any stock exchange
on which our common stock may be listed, the authorized shares of preferred stock will be available for issuance without further action
by our stockholders. Delaware law does not require stockholder approval for any issuance of authorized shares. However, under applicable
Nasdaq Listing Rules, a company must not, subject to specified exceptions, without the approval of its stockholders, issue or agree to
issue, any equity securities, or other securities with rights to convert into equity at a price that is less than the Minimum Price (as
defined in Nasdaq Rule 5636(d)(1)) if the number of those securities exceeds 19.99% of the number of shares issued and outstanding at
the commencement of such offering.

Our certificate of incorporation authorizes our
board of directors to provide, out of the unissued shares of preferred stock, for one or more series of preferred stock and, with respect
to each such series, to fix the number of shares constituting such series and the designation of such series, the voting powers, if any,
of the shares of such series, and the preferences and relative, participating, optional or other special rights, if any, and any qualifications,
limitations or restrictions thereof, of the shares of such series.

The existence of unissued and unreserved common
stock or preferred stock may enable our board of directors to issue shares to persons friendly to current management, which could render
more difficult or discourage an attempt to obtain control of our company by means of a merger, tender offer, proxy contest or otherwise,
and could thereby protect the continuity of our management and possibly deprive stockholders of opportunities to sell their shares of
common stock at prices higher than prevailing market prices.

Common Stock

Holders of our common stock are entitled to one
vote for each share held of record on all matters voted upon by our stockholders and do not have cumulative voting rights. All matters
including the election of directors will be determined by a majority of the votes cast in person or represented by proxy, except to the
minimum extent otherwise required by the DGCL. However, except as otherwise required by law, holders of common stock are not entitled
to vote on any amendment to our certificate of incorporation that that relates solely to the terms of our preferred stock if the holders
of the preferred stock are entitled to vote separately thereon by