Company: SUNE
Filing Date: 2025-02-28
Form Type: PRE 14A
Source: 0001140361-25-006563
Chunk: 26

Company: SUNation Energy, Inc.
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 26
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, transferred or assigned without our consent.

Exchange Listing . We do not intend to apply for the listing of the Warrants offered in this offering on any stock exchange. Without an active trading market, the liquidity of the Warrants will be limited.

Rights as a Stockholder . Except as otherwise provided in the Warrants or by virtue of such holder’s ownership of our shares of Common Stock, the holder of a Warrant does not have the rights or privileges of a holder of our shares of Common Stock, including any voting rights, until the holder exercises the Warrant.

Fundamental Transaction . In the event of a fundamental transaction, as described in the Warrants, and generally including, with certain exceptions, any reorganization, recapitalization or reclassification of our shares of Common Stock, the sale, transfer or other disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another person, the acquisition of more than 50% of our outstanding shares of Common Stock, or any person or group becoming the beneficial owner of 50% of the voting power represented by our outstanding shares of Common Stock, the holders of the Warrants will be entitled to receive upon exercise thereof the kind and amount of securities, cash or other property that the holders would have received had they exercised the warrants immediately prior to such fundamental transaction.

Governing Law . The Warrants are governed by New York law.

#### Purpose of the Warrant Stockholder Approval
Pursuant to a Dilutive Issuance and an Issue Date Adjustment, the exercise price of the Series A Warrants and the Series B Warrants, respectively, may be adjusted to an exercise price that is equal to 20% of “Minimum Price” as defined under Nasdaq’s rules. As a result, the potential issuance of the Warrant Shares may be deemed a “20% Issuance,” under Nasdaq listing rule 5635(d), and as such the Company is required to obtain the approval of its stockholders in connection with the second closing of the Offering in order to comply with Nasdaq listing rule 5635(d). “Minimum Price” means the lower of the closing price immediately preceding the signing of the purchase agreement for the Offering or the average closing price for the five trading days immediately preceding such date, plus the value of the Warrants issued in the Offering. A “20% Issuance” is a transaction, other than a public offering, involving the sale, issuance or potential issuance by the Company of Common Stock (or securities