Company: SUNE
Filing Date: 2025-04-07
Form Type: 424B5
Source: 0001213900-25-029179
Chunk: 69

Company: SUNation Energy, Inc.
Filing Date: 2025-04-07
Form: 424B5
Chunk 69
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 shareholders vote to accord these shares the voting rights normally associated with these shares.     
 A “control share acquisition” is an acquisition, directly or indirectly, by an “acquiring person” (as defined                             
 in the MBCA) of beneficial ownership of shares of an issuing public corporation that, but for Section 302A.671, would, when added to      
 all other shares of the issuing public corporation beneficially owned by the acquiring person, entitle the acquiring person, immediately  
 after the acquisition, to exercise or direct the exercise of a new range of voting power of the issuing public corporation with any of    
 the following three ranges: (i) at least 20 percent but less than 33-1/3 percent; (ii) at least 33-1/3 percent but less than or equal     
 to 50 percent; and (iii) over 50 percent. The issuing public company also has an option to call for redemption all, but not less than     
 all, shares acquired in the control share acquisition that exceed the threshold of voting power of any of the specified ranges at a price 
 equal to the fair market value of the shares at the time the call is given if (i) the acquiring person fails to deliver the information   
 statement to the issuing public company by the tenth day after the control share acquisition; or (ii) shareholders have voted not to      
 accord voting rights to the shares acquired in the control share acquisition.                                                             |

| ● | MBCA Section 302A.673 (Business combinations) prohibits a                                                                                 
 public Minnesota corporation, such as us, from engaging in a business combination with an interested shareholder for a period of four     
 years after the date of the transaction in which the person became an interested shareholder, unless either (i) the business combination  
 or (ii) the acquisition by which the person becomes an interested shareholder is approved in a prescribed manner before the person became 
 an interested shareholder. The term “business combination” includes mergers, asset sales and other transactions resulting                 
 in a financial benefit to the interested shareholder. An “interested shareholder” is a person who is the beneficial owner,                
 directly or indirectly, of 10% or more of a corporation’s voting stock, or who is an affiliate or associate of the corporation,           
 and who, at any time within four years before the date in question, was the beneficial owner, directly or indirectly, of 10% or more      
 of the corporation’s outstanding voting stock.                                                                                            |

| ● | If a takeover offer is