Company: SUNE
Filing Date: 2025-08-18
Form Type: 424B5
Source: 0001213900-25-078001
Chunk: 12

Company: SUNation Energy, Inc.
Filing Date: 2025-08-18
Form: 424B5
Chunk 12
---
 share of our Common Stock, you may suffer immediate
and substantial dilution with respect to the net tangible book value of the Common Stock you purchase in this offering. After giving
effect to the sale of up to 18,072,289 shares of Common Stock at an assumed price of $1.66 per share, and after deducting the estimated
offering-related expenses payable by us, our as adjusted net tangible book value as of June 30, 2025 would have been approximately $22.4
million, or $1.04 per share. This amount represents an immediate increase in the adjusted net tangible book value of $2.93 per share
to investors purchasing shares of our Common Stock in this offering. See “Dilution” for a more detailed discussion of the
dilution you may incur in connection with this offering.

<div align='center'>S-3</div>

Sales of a substantial number of our shares of Common Stock in the public market could cause our stock price to fall.

We may issue and sell additional shares of Common
Stock in the public markets, including during this offering. As a result, a substantial number of shares of our Common Stock may be sold
in the public market. Sales of a substantial number of shares of our Common Stock in the public markets, including during this offering,
or the perception that such sales could occur, could depress the market price of our Common Stock and impair our ability to raise capital
through the sale of additional equity securities.

An active trading market for our Common Stock may not be sustained.

Although our Common Stock is listed on The Nasdaq
Capital Market, the market for our Common Stock has demonstrated varying levels of trading activity. Furthermore, the current level of
trading may not be sustained in the future. The lack of an active market for our Common Stock may impair investors’ ability to
sell their shares at the time they wish to sell them or at a price that they consider reasonable, may reduce the fair market value of
their shares and may impair our ability to raise capital to continue to fund operations by selling shares and may impair our ability
to acquire additional intellectual property assets by using our shares as consideration.

The actual number of shares we will issue under the Sales Agreement, at any one time or in total, is uncertain.

Subject to certain limitations in the Sales Agreement
and compliance with applicable law, we have the discretion to deliver a sales notice to the Sales Agent at any time throughout the term
of the Sales Agreement. The number