Company: SUNE
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001213900-25-017771
Chunk: 14

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 424B5
Chunk 14
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| Common stock outstanding immediately after this offering  |     | 4,393,587 shares, and assuming no sale or exercise of any Pre-Funded Warrants and assuming none of the common warrants issued in this offering are exercised.                                                                                                                                  |
| Nasdaq Capital Market symbol                              |     | SUNE; there is no established public trading market, however, for the Pre-Funded Warrants or the common warrants, and we do not intend to list these securities on any national securities exchange or trading system.                                                                         |
| Use of proceeds                                           |     | We currently intend to use the net proceeds from this offering under this prospectus supplement to repay existing senior and junior secured debt obligations, as well as for working capital and general corporate purposes. See “Use of Proceeds” on page S-10 of this prospectus supplement. |
| Risk factors                                              |     | See “Risk Factors” on page S-4 and the other information included or incorporated by reference in this prospectus supplement, and the accompanying prospectus for a discussion of certain factors you should carefully consider before deciding to invest in shares of our common stock.       |

The number of shares of common stock to be outstanding after this offering, as reflected above, is based on 4,393,587 shares of common stock outstanding at February 27, 2025 and excludes the following:

| ● | 500,000 shares of common stock issuable upon exercise of those certain warrant share exchange agreements in lieu of cash at a price of $1.15 per share;      |
| ● | 12,676 shares of common stock issuable pursuant to our 2022 Equity Incentive Plan;                                                                           |
| ● | 400 shares of common stock issuable pursuant to our 2022 Employee Stock Purchase Plan;                                                                       |
| ● | 60 shares of common stock issuable pursuant to our SUNation Inducement Grants; and                                                                           |
| ● | 22,222 shares of common stock issuable pursuant to conversion of existing convertible debt.                                                                  |
| ● | 400,000 shares of common stock issuable upon conversion of Series D Convertible Preferred Stock shares outstanding at a conversion price of $1.25 per share. |

<div align='center'>S-3

RISK FACTORS</div>

You should carefully consider the risks described below before making an investment decision. The risks described below are not the only ones we face, and are in addition to the risk factors set forth in our annual report on Form 10-K,