Company: SUNE
Filing Date: 2025-04-17
Form Type: 8-K
Source: 0001213900-25-032666
Chunk: 2

Company: SUNation Energy, Inc.
Filing Date: 2025-04-17
Form: 8-K
Chunk 2
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 common
stock had not maintained a minimum closing bid price of $1.00 per share (the “Minimum Bid Price Requirement”) and, as a result,
does not comply with Listing Rule 5550(a)(2) (the “Rule”). Normally, a company would be afforded a 180-calendar day period
to demonstrate compliance with the Rule (“Cure Period”); however, pursuant to Listing Rule 5810(c)(3)(A)(iv), the Company
is not eligible for a customary Cure Period specified in Rule 5810(c)(3)(A) due to the fact that the Company has effected a reverse stock
split over the prior one-year period or has effected one or more reverse stock splits over the prior two-year period with a cumulative
ratio of 250 shares or more to one.

Instead,
the Company is offered an opportunity to appeal any deficiency related to a delisting determination to Nasdaq by seven days from receipt
of the non-compliance notice. Accordingly, unless the Company timely requests a hearing before a Hearings Panel, the Company’s securities
would be subject to suspension/delisting.

The
Company intends to timely request a hearing before the Hearing Panel. The hearing request will automatically stay any suspension or delisting
action pending the hearing and the expiration of any additional extension period if granted by the Panel following the hearing. There
can be no assurance that the Panel will grant the Company an additional extension period or that the Company will ultimately regain compliance
with all applicable requirements for continued listing on The Nasdaq Capital Market.

In the event that the Company regains compliance
with the Minimum Bid Price Requirement prior to any scheduled hearing date, then a hearing may not be necessary, as the Company may be
mooted out of the hearings process. Additionally, to this end, the stockholders of the Company had approved a share consolidation on
April 3, 2025 that can be utilized within the discretion of the board of directors of the Company and, if and when effectuated, such
action may resolve the above noted Nasdaq listing compliance deficiency prior to such hearing date.

Item 3.03 Material Modification to Rights of Security Holders.

To
the extent required by Item 3.03 of Form 8-K, the information contained in Item 5.03 herein is incorporated by reference into this Item
3.03.

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

Effective
April 16, 2025,