SUNation Energy’s Successful $5 Million Registered Direct Offering
RONKONKOMA, NY – April 7, 2025 – SUNation Energy, Inc. (SUNation or the Company), a leading solar energy and backup power solutions provider, recently announced the successful completion of the second and final closing of its registered direct offering (the “offering”). The offering, which was priced at-the-market under Nasdaq rules, brought in gross proceeds of $5 million for the Company.
The Offering
In the offering, SUNation sold 4,347,826 shares of its common stock, or common stock equivalents in lieu thereof, to certain institutional investors. These investors also received Series A warrants to purchase up to an aggregate 17,391,306 shares of the Company’s common stock and Series B warrants to purchase up to an aggregate 17,391,306 shares of the Company’s common stock. The effective purchase price per share, along with the associated warrants, was $1.15.
Impact on SUNation
This offering will significantly bolster SUNation’s financial position, providing the company with the necessary resources to continue its mission of providing sustainable solar energy and backup power solutions to households, businesses, and municipalities. SUNation’s CEO, Zack Kircos, expressed his excitement about the offering, stating, “We are thrilled to have secured this financing, which will allow us to continue expanding our operations and delivering clean energy solutions to our customers.”
Impact on Consumers and the World
The successful offering is a positive sign for the solar energy industry and the environment. With the increased financial resources, SUNation can continue to innovate and develop new solar energy technologies, making clean energy more accessible and affordable for consumers. Furthermore, the growth of the solar energy sector contributes to a more sustainable future, reducing greenhouse gas emissions and dependence on fossil fuels.
Conclusion
SUNation Energy’s successful $5 million registered direct offering is a significant step forward for the company and the solar energy industry as a whole. With the increased financial resources, SUNation can continue to expand its operations and deliver clean energy solutions to more customers. This offering also reinforces the growing importance of renewable energy sources in our world, contributing to a more sustainable future for generations to come.
- SUNation Energy completes $5 million registered direct offering
- Offering brings in gross proceeds of $5 million
- Company sells common stock and associated warrants to institutional investors
- Funds will be used to continue expanding operations and delivering clean energy solutions
- Positive sign for the solar energy industry and the environment
