---
schema_version: "secwatch.filing_event.v1"
accession: "0000897101-23-000240"
form_type: "8-K"
ticker: "SUNE"
cik: "0000022701"
company_name: "SUNation Energy, Inc."
filed_at: "2023-06-06T23:59:59+00:00"
generated_at: "2026-06-14T06:54:16.847322+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pineapple Energy secures $7.5M loan from Decathlon, amends Hercules debt, CEO salary reinstated

## Summary
- Entered $7.5M revenue loan from Decathlon; full amount advanced; repaid $5M short-term note from SUNation acquisition.
- Loan matures June 1, 2027; monthly payments of $960k in 2023, $2.22M in 2024, $2.58M in 2025, $2.76M in 2026, $3.48M in 2027.
- Interest equals minimum multiple of advance: 0.25x if repaid within 12 months, up to 0.60x if repaid after 36 months.
- Hercules Loan amended: consent to Decathlon, $1.5M prepayment, maturity extended to June 2027, interest rate 10%, subordinated.
- CEO Kyle Udseth's annual base salary reinstated from $255k to $300k effective June 5, 2023.

## SEC filing metadata
- accession: 0000897101-23-000240
- form_type: 8-K
- ticker: SUNE
- cik: 0000022701
- company_name: SUNation Energy, Inc.
- filed_at: 2023-06-06T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/22701/000089710123000240/0000897101-23-000240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22701/000089710123000240/pegy230658_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000897101-23-000240
- JSON: https://secwatch.observer/filing/0000897101-23-000240.json
- Plain text: https://secwatch.observer/filing/0000897101-23-000240.txt

## Key facts
- Material Agreements
  SUNation Energy, Inc. amended Consent and Amendment No. 2 to Loan and Security Agreement with Hercules Capital, Inc. valued at Amends Hercules Loan Agreement to join Company as borrower, extend maturity to June 2, 2027, set int (effective 2023-05-31).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc.
  - Value: Amends Hercules Loan Agreement to join Company as borrower, extend maturity to June 2, 2027, set int
  - Effective: 2023-05-31
  source text: On May 31, 2023, the Company and its wholly owned subsidiary, Pineapple Energy LLC (“PE LLC”) entered into that certain Consent and Amendment No. 2 to Loan and Security Agreement (the “Amendment”) to the Loan and Security Agreement, dated December 11, 2020 (as amended, the “Hercules Loan Agreement”) with Hercules Capital, Inc. (“Hercules”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000089710123000240/0000897101-23-000240-index.htm
- Material Agreements
  SUNation Energy, Inc. entered into Revenue Loan and Security Agreement with Decathlon Specialty Finance, LLC valued at $7.5 million loan facility, fixed monthly payments totaling $960,000 in 2023, $2,220,000 in 2024, $2 (effective 2023-06-01).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Decathlon Specialty Finance, LLC
  - Value: $7.5 million loan facility, fixed monthly payments totaling $960,000 in 2023, $2,220,000 in 2024, $2
  - Effective: 2023-06-01
  source text: On June 1, 2023 (the “Effective Date”), Pineapple Energy Inc. (the “Company”) entered into a Revenue Loan and Security Agreement (the “Loan Agreement”) by and among the Company, each of the Company’s subsidiary guarantors who from time to time become guarantors thereunder (collectively, the “Guarantors”), and Decathlon Specialty Finance, LLC (“Decathlon”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000089710123000240/0000897101-23-000240-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.