Company: SUNE
Filing Date: 2025-04-22
Form Type: S-3
Source: 0001213900-25-033892
Chunk: 48

Company: SUNation Energy, Inc.
Filing Date: 2025-04-22
Form: S-3
Chunk 48
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 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). However, if such adjustment would otherwise result in an
increase in the exercise price hereunder, no adjustment shall be made.

Cashless Exercise. If, at any time after
the holder’s purchase of Series A Warrants, such holder exercises its Series A Warrants and the registration statement registering
the issuance of the shares of common stock underlying the Series A Warrants under the Securities Act is not then effective or available
(or a prospectus is not available for the resale of shares of common stock underlying the Series A Warrants), then in lieu of making the
cash payment otherwise contemplated to be made to us upon such exercise in payment of the aggregate exercise price, the holder shall instead
receive upon such exercise (either in whole or in part) only the net number of shares of common stock determined according to a formula
set forth in the Series A Warrants. Notwithstanding anything to the contrary, in the event we do not have or maintain an effective registration
statement, there are no circumstances that would require us to make any cash payments or net cash settle the Series A Warrants to
the holders.

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Transferability. Subject to applicable laws,
the Series A Warrants may be offered for sale, sold, transferred or assigned at the option of the holder upon surrender of the Series
A Warrants to us together with the appropriate instruments of transfer.

Exchange Listing. We do not plan on applying
to list the Series A Warrants on the Nasdaq Capital Market, any other national securities exchange or any other nationally recognized
trading system.

Fundamental Transactions. In the event of
a fundamental transaction, as described in the Series A Warrants and generally including any reorganization, recapitalization or reclassification
of our common stock, the sale, transfer or other disposition of all or substantially all of our properties or assets, our consolidation
or merger with or into another person, the acquisition of more than 50% of our outstanding common stock, or any person or group becoming
the beneficial owner of 50% of the voting power represented by our outstanding common stock, the holders of the Series A Warrants will
be entitled to receive upon