SUNation Energy closes second tranche of registered direct offering, raising $5M; total gross proceeds $20M

SUNation Energy, Inc.

Second closing generates $5M gross proceeds; combined with first tranche totals ~$20M.
Company used $9.4M from first tranche to repay senior and junior secured loans, improving balance sheet.
Offering sold 4.35M shares/common equivalents plus Series A & B warrants for up to 34.8M shares at $1.15/unit.
Net proceeds to fund operations, working capital, potential strategic transactions, and debt obligations.

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