Company: SUNE
Filing Date: 2025-01-07
Form Type: 424B5
Source: 0001213900-25-001403
Chunk: 27

Company: SUNation Energy, Inc.
Filing Date: 2025-01-07
Form: 424B5
Chunk 27
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.59 | ) |
| Dilution                                                                  
 per share to new investors in this offering                               |     |   |        |   |     | $ |  6.17 |   |

Based on 940,385 shares of Common Stock outstanding as of September 30, 2024. This information is supplied for illustrative purposes only, and will adjust based on the actual offering prices, the actual number of shares that we offer and sell in this offering and other terms of each sale of shares in this offering.

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DESCRIPTION OF SECURITIES</div>

The following summary of the general terms and provisions of our capital stock does not purport to be complete. We encourage you to read our certificate of incorporation, bylaws, and the DGCL for additional information.

Authorized Shares of Capital Stock

As of the date hereof, our authorized is 25,000,000 shares of Common Stock, par value $0.05 per share and 3,000,000 shares of preferred stock, $1.00 par value per share. 35,000 shares of the authorized preferred stock are designated as “Series C Convertible Preferred Stock,” with a par value of $1.00 per share and a stated value equal to $1,000.00.

As of January 3, 2025, we had 1,926,900 shares of Common Stock outstanding.

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