Company: SUNE
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001213900-25-017771
Chunk: 100

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 424B5
Chunk 100
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 by paying to the holder cash in an amount equal
to the Black-Scholes value of the remaining unexercised portion of the warrant on the date of such change of control.

Under the Outstanding Warrants, the term Fundamental
Transaction includes one or more related transactions in which we, directly or indirectly, will:

| ● | consolidate or merge with or into (whether or not we are the surviving corporation) another entity; or |

| ● | sell, assign, transfer, convey or otherwise dispose of all or substantially all of the properties or assets of company or any of our “significant subsidiaries” to one or more entities; or |

| ● | make, or allow one or more entities to make, or allow our company to be subject to or have shares of common stock be subject to or party to one or more entities making, a purchase, tender or exchange offer that is accepted by the holders of at least either (i) 50% of the outstanding shares of common stock, (ii) 50% of the outstanding shares of common stock calculated as if any shares of common stock held by all entities making or party to, or affiliated with any entities making or party to, such offer were not outstanding; or (iii) such number of shares of common stock such that all entities making or party to, or affiliated with any entity making or party to, such offer, become collectively the beneficial owners of at least 50% of the outstanding shares of common stock; or |

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| ● | consummate a stock purchase agreement or other business combination with one or more entities whereby all such entities, individually or in the aggregate, acquire, either (i) at least 50% of the outstanding shares of common stock, (ii) at least 50% of the outstanding shares of common stock calculated as if any shares of common stock held by all the entities making or party to, or affiliated with any entity making or party to, such stock purchase agreement or other business combination were not outstanding; or (iii) such number of shares of common stock such that the entities become collectively the beneficial owners of at least 50% of the outstanding shares of common stock; or |

| ● | reorganize, recapitalize or reclassify shares of common stock; or |

| ● | allow any entity individually or the entities in the aggregate to be or become the beneficial owner, directly or indirectly, of either (x) at least 50% of the aggregate ordinary voting power represented by issued