---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-012215"
form_type: "8-K"
ticker: "SUNE"
cik: "0000022701"
company_name: "SUNation Energy, Inc."
filed_at: "2026-02-04T23:59:59+00:00"
generated_at: "2026-05-16T05:06:27.697002+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# SUNation eliminates $1.1M legacy promissory note for $800K settlement, saving $20K/month

## Summary
- Remaining ~$1.1M principal on note from 2021 shareholder buyout eliminated with lump-sum $800K settlement.
- Monthly payments reduced from ~$25,000 to ~$5,000, saving ~$20,000 per month through 2031.
- Settlement funded via existing $1M revolver from MBB Energy (related party CEO Scott Maskin) at 8% fixed interest.
- Aggregate principal reduction of ~$335,000; no prior draws on revolver before this transaction.
- Part of broader balance-sheet cleanup including final CVR distribution (Dec 2025) and Series A warrant termination (Jun 2025).

## SEC filing metadata
- accession: 0001213900-26-012215
- form_type: 8-K
- ticker: SUNE
- cik: 0000022701
- company_name: SUNation Energy, Inc.
- filed_at: 2026-02-04T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/22701/000121390026012215/0001213900-26-012215-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22701/000121390026012215/ea0275653-8k_sunation.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-012215
- JSON: https://secwatch.observer/filing/0001213900-26-012215.json
- Plain text: https://secwatch.observer/filing/0001213900-26-012215.txt

## Key facts
- Debt Financings
  SUNation Energy, Inc. amended loan of Remaining principal balance of approximately $1.1 million eliminated via lump-sum settlement payment of $800,000, reduci with Former shareholder of SUNation Solar Systems at Unknown maturing March 1, 2031.
  - Instrument: loan
  - Principal: Remaining principal balance of approximately $1.1 million eliminated via lump-sum settlement payment of $800,000, reduci
  - Counterparty: Former shareholder of SUNation Solar Systems
  - Maturity: March 1, 2031
  - Event: amendment
  source text: On January 30, 2026, the Company reached agreement with former shareholder to eliminate the promissory note. Prior to reaching this settlement, the promissory note carried remaining principal balance of approximately $1.1 million and required monthly payments of approximately $25,000 through the contractual maturity date of March 1, 2031. To eliminate the long-term promissory note, significantly reduce this remaining multi-year obligation and improve financial flexibility, the Company negotiated a one-time lump-sum settlement payment of $800,000, which payment was made on January 30, 2026.
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026012215/0001213900-26-012215-index.htm
- Debt Financings
  SUNation Energy, Inc. incurred revolving credit of Borrowings under the Revolver bear interest at a fixed annual rate of 8%, payable monthly in arrears. Prior to drawing o with MBB Energy, LLC at fixed annual rate of 8% maturing Not specified.
  - Instrument: revolving credit
  - Principal: Borrowings under the Revolver bear interest at a fixed annual rate of 8%, payable monthly in arrears. Prior to drawing o
  - Counterparty: MBB Energy, LLC
  - Rate: fixed annual rate of 8%
  - Maturity: Not specified
  - Event: incurrence
  source text: In connection with the elimination of the long-term promissory note, the Company utilized its existing $1 million secured revolving line of credit facility established in April 2025 (the “Revolver”) with MBB Energy, LLC (“MBB”), which is an affiliate and related party of the Company by virtue of MBB being an entity controlled by Scott Maskin, our chief executive officer. Borrowings under the Revolver bear interest at a fixed annual rate of 8%, payable monthly in arrears on the first day of each calendar month. The Company may repay outstanding borrowings at any time without penalty. Prior to drawing on this facility in January 2026, no amounts had been drawn on the Revolver.
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026012215/0001213900-26-012215-index.htm

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