Company: SUNE
Filing Date: 2025-02-28
Form Type: PRE 14A
Source: 0001140361-25-006563
Chunk: 24

Company: SUNation Energy, Inc.
Filing Date: 2025-02-28
Form: PRE 14A
Chunk 24
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 of the Warrants if the holder (together with its affiliates) would beneficially own in excess of, as of any date, the lower of (x) the maximum percentage of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon exercise of Series A Warrant or Series B Warrant, respectively, that can be issued to the holder without requiring a shareholder vote under the rules and regulations of the trading market on which the common stock trades on such date and applicable securities laws and (y) 4.99% (or, upon election by a holder prior to the issuance of any warrants, 9.99%) or 9.99%, as elected by such holder, of the number of shares of Common Stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, upon at least 61 days’ prior notice from the holder to us with respect to any increase in such percentage.

Upon Warrant Stockholder Approval, the Series A Warrants will be issued with an initial exercise price of $1.725 per share of Common Stock (subject to certain anti-dilution and issue date protections, as further set forth below, along with being subject to customary adjustments for reverse and forward stock splits, recapitalization and similar transactions following the date of issuance) and have a term of five years from the Issuance Date.

Upon Warrant Stockholder Approval, the Series B Warrants will be issued with an initial exercise price of $2.875 per share of Common Stock, subject to certain anti-dilution and issue date, as further set forth below, along with being subject to customary adjustments for reverse and forward stock splits, recapitalization and similar transactions following the date of issuance) and have a term of five years from the Issuance Date.

Adjustment for Subsequent Issuances . Subject to certain exceptions, if the Company issues or sells any Common Stock (or securities convertible into or exercisable into Common Stock) at a price per share (or conversion or exercise price, as applicable) less than the exercise price of the Series A Warrants or the Series B Warrants, respectively, then in effect, then the exercise price of the Series A Warrants and the Series B Warrants, respectively, will be reduced to such lower price, provided that such reduction in