Company: SUNE
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001213900-25-017771
Chunk: 1

Company: SUNation Energy, Inc.
Filing Date: 2025-02-27
Form: 424B5
Chunk 1
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up to 17,391,306 shares of common stock, and (z) Series B Warrants to purchase up to 17,391,306 shares of common stock.

The shares of common stock and common warrants
will be separately issued, but the shares of common stock and common warrants will be issued to purchasers in the ratio of one-to-one.
Each of the common warrants may be exercised for one share of our common stock. Each Series A Warrant will have an initial exercise price
of $1.725 per share (not to exceed 150% of the combined public offering price), which will be subject to adjustment upon receipt of the
Warrant Stockholder Approval and also subject to adjustment upon a dilutive issuance. Each Series B Warrant will have an initial exercise
price of $2.875 per share (not to exceed 250% of the combined public offering price), which will be subject to adjustment upon receipt
of the Warrant Stockholder Approval and also subject to adjustment upon a dilutive issuance. Each Series B Warrant may also be exercised
pursuant to an alternative cashless provision in which the holder will receive three shares of common stock for each share of common stock
they would have received in a cash exercise for each Series B Warrant they exercise.

We are also offering to certain purchasers whose
purchase of shares of common stock in this offering would otherwise result in the purchaser, together with its affiliates and certain
related parties, beneficially owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately
following the consummation of this offering (such limitation, the “Beneficial Ownership Limitation”). The purchase price
of each Pre-Funded Warrant will be equal to the public offering price for the common stock in this offering, minus $0.001. Each Pre-Funded
Warrant is exercisable for one share of our common stock and has an exercise price of $0.001 per share. For each Pre-Funded Warrant that
we sell, the number of shares of common stock we are offering will be reduced on a one-for-one basis. The Pre-Funded Warrants will be
immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full.

There is no established public trading market for
the Pre-Funded Warrants or common warrants, and we do not expect a market to develop. We do not intend to