8-K
filed December 20, 2023, 6:59 PM ET
ticker SUNE
CIK 0000022701
other material
confidence high
sentiment negative
materiality 0.70
Pineapple Energy shareholders reject reverse stock split and authorized share increase; meeting adjourned
SUNation Energy, Inc.
- Shareholders rejected Proposal 3 to increase authorized shares from 75M to 112.5M and Proposal 5 for a reverse stock split (ratio 1:2 to 1:15).
- Proposal 4 approved: ESPP share reserve increased from 200k to 500k shares.
- Proposal 6 approved: private placement up to $20M at up to 20% discount below market.
- Due to insufficient votes on Proposals 3 and 5, the meeting was adjourned to Dec 29, 2023 for further solicitation.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders rejected Reverse stock split of outstanding common stock at a ratio within 1-for-2 to 1-for-15 at the 2023-12-14 meeting.
- Proposal
- reverse split
- Outcome
- failed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 5: Reverse Stock Split Proposal The Company’s shareholders did not approve a reverse stock split of the outstanding shares of the Company’s common stock, at a ratio within a range of 1-for-2 to 1-for-15, as determined by the Board, by voting as follows: For Against Abstain 5,889,031 1,017,262 44,720
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders approved Ratification of UHY LLP as independent registered public accounting firm at the 2023-12-14 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 2: Auditor Ratification Proposal The Company’s shareholders ratified the appointment of UHY LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023 by voting as follows: For Against Abstain 6,703,791 50,775 196,447
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders approved Adjournment of Annual Meeting to solicit additional proxies if necessary at the 2023-12-14 meeting.
- Outcome
- passed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 7: Adjournment Proposal The Company’s shareholders approved the one or more adjournments of the Annual Meeting to a later date or dates to solicit additional proxies if there are insufficient votes to approve any of the proposals at the time of the Annual Meeting by voting as follows: For Against Abstain 3,946,730 2,911,576 92,707
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders rejected Amendment to Amended and Restated Articles of Incorporation to increase authorized shares of Common Stock from 75,000,000 to 112,500,000 at the 2023-12-14 meeting.
- Proposal
- charter amendment
- Outcome
- failed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 3: Authorized Share Amendment Proposal The Company’s shareholders did not approve the amendment of the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of Common Stock from 75,000,000 to 112,500,000 by voting as follows: For Against Abstain Broker Non-Votes 3,170,824 1,882,767 14,872 1,882,550
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders approved Election of Directors at the 2023-12-14 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 1: Election of Directors Proposal The following nominees were elected to serve as directors for a term that will last until the Company’s 2024 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified. The voting with respect to the election of directors was as follows: Nominee Votes For Withheld Broker Non-Votes Marilyn Adler 4,804,521 263,942 1,882,550 Thomas Holland 4,810,563 257,900 1,882,550 Scott Honour 3,236,932 1,831,531 1,882,550 Roger Lacey 4,699,291 369,172 1,882,550 Scott Maskin 4,734,797 333,666 1,882,550 Randall Sampson 4,806,733 261,730 1,882,550 Kyle Udseth 3,416,685 1,651,778 1,882,550
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders approved Approval of issuance of up to $20.0 million of securities in non-public offerings under Nasdaq Listing Rule 5635(d) at the 2023-12-14 meeting.
- Outcome
- passed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 6: Private Placement Proposal The Company’s shareholders approved the potential approve the issuance of up to $20.0 million of securities in one or more non- public offerings where the maximum discount at which securities will be offered will be equivalent to a discount of up to 20% below the market price of the Common Stock in accordance with Nasdaq Listing Rule 5635(d) by voting as follows: For Against Abstain Broker Non-Votes 4,191,765 829,762 46,936 1,882,550
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 1.0
SUNation Energy, Inc. shareholders approved Amendment to 2022 Employee Stock Purchase Plan to increase shares authorized from 200,000 to 500,000 at the 2023-12-14 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-12-14
Exact text from the filing
Proposal 4: Proposal to Amend the 2022 Employee Stock Purchase Plan The Company’s shareholders approved the amendment of the Company’s 2022 Employee Stock Purchase Plan to increase the number of shares of common stock authorized for issuance under the Plan from 200,000 to 500,000 shares by voting as follows: For Against Abstain Broker Non-Votes 4,653,720 401,820 12,923 1,882,550
View on SEC.gov
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