Pineapple Energy shareholders reject reverse stock split and authorized share increase

SUNation Energy, Inc.

Proposal 1 (reverse split 1:25 to 1:200) failed: 27.6M For, 6.4M Against, 51k Abstain.
Proposal 2 (increase authorized shares from 112.5M to 2B) failed: 21.1M For, 5.9M Against, 7.1M broker non-votes.
Proposal 3 (adjournment) approved: 25.8M For, 8.2M Against, 123.8k Abstain.
Special Meeting held April 12, 2024; 59.76% of outstanding shares voted.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

SUNation Energy, Inc. shareholders rejected Reverse Stock Split Proposal to effect a reverse stock split at a ratio within a range of 1-for-25 to 1-for-200 at the 2024-04-12 meeting.

Proposal: reverse split
Outcome: failed
Meeting: 2024-04-12

Exact text from the filing

The Company's shareholders did not approve an amendment to the Company’s Amended and Restated Articles of Incorporation to effect a reverse stock split of the issued and outstanding shares of the Company’s Common Stock at a ratio within a range of 1-for-25 to 1-for-200 by voting as follows: For Against Abstain 27,625,617 6,441,977 51,279

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

SUNation Energy, Inc. shareholders approved Adjournment Proposal to permit the Company to adjourn or postpone the Special Meeting for the purpose of soliciting additional proxies at the 2024-04-12 meeting.

Outcome: passed
Meeting: 2024-04-12

Exact text from the filing

The Company’s shareholders approved the proposal to permit the Company to adjourn or postpone the Special Meeting for the purpose of soliciting additional proxies if there are insufficient votes to approve any of the proposals at the time of the Special Meeting by voting as follows: For Against Abstain 25,763,773 8,231,308 123,792

View on SEC.gov

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

SUNation Energy, Inc. shareholders rejected Authorized Share Amendment Proposal to increase the number of authorized shares of Common Stock from 112,500,000 to 2,000,000 at the 2024-04-12 meeting.

Proposal: charter amendment
Outcome: failed
Meeting: 2024-04-12

Exact text from the filing

The Company’s shareholders did not approve an amendment to the Company’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of the Company’s Common Stock from 112,500,000 to 2,000,000 by voting as follows: For Against Abstain Broker Non-Votes 21,070,030 5,934,760 35,700 7,078,383

View on SEC.gov

160 shareholder votes filed in the last 30 days. Browse all shareholder votes →

SUNation Energy, Inc. filing history →

Source: SEC EDGAR

accession 0000897101-24-000134

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