secwatch.observer — SEC 8-K summary
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Issuer:     SUNation Energy, Inc. (SUNE)
CIK:        0000022701
Form:       8-K
Filed at:   2024-09-09T23:59:59+00:00
Accession:  0000897101-24-000436
Event type: other_material
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 3.02, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pineapple Energy restructures Series A preferred stock and warrants into Series C, adds $120K convertible loan
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- Entered Amended Note with Conduit Capital for additional $120,000 advance, convertible at $0.45 per share.
- Reset triggered conversion of Series A Preferred Stock into 28,942,573 shares and warrants into 66,741,065 shares at $0.45.
- Exchange canceled Series A and warrants for Series C Preferred Stock convertible into 62,313,111 shares of common stock.
- Series C Preferred Stock eliminates price resets, with beneficial ownership limitation of 4.99% or 9.99%.
- Closing of exchange and amended note expected on September 10, 2024, subject to conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/22701/000089710124000436/0000897101-24-000436-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/22701/000089710124000436/pegy240945_8k.htm
  HTML page:      https://secwatch.observer/filing/0000897101-24-000436

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer