SUNation Energy, Inc. (SUNE): debt financing — SUNation converts $1.2M debt to equity at 10% premium; extends credit line to $1.5M

SUNation Energy, Inc.

Board approves conversion of ~$1.2M long-term debt into 677k restricted shares at $1.77/share (10% premium to Apr 13 close).
Conversion shares represent ~19.9% of public float; locked up 180 days from issuance.
Line of credit capacity increased from $1M to $1.5M; maturity extended to Oct 15, 2026.
Related-party transaction: CEO Scott Maskin and CFO James Brennan hold the converted long-term note.
Company states it eliminated ~$14M in short- and long-term debt over the past 14 months.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SUNation Energy, Inc. amended senior notes of $5,486,000 maturing May 1, 2028.

Instrument: senior notes
Principal: $5,486,000
Maturity: May 1, 2028
Event: amendment

Exact text from the filing

the Long-Term Note was amended and restated whereby the principal amount of $5,486,000 previously due and payable under the original Long-Term Note, together with all accrued and unpaid interest owing thereunder, became due and payable on May 1, 2028, and such amended note became a senior secured instrument of the Company

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SUNation Energy, Inc. amended revolving credit of increased Line of Credit Capacity to a new aggregate total of $1,500,000 with MBB Energy, LLC maturing October 15, 2026.

Instrument: revolving credit
Principal: increased Line of Credit Capacity to a new aggregate total of $1,500,000
Counterparty: MBB Energy, LLC
Maturity: October 15, 2026
Event: amendment

Exact text from the filing

to extend the Maturity Date by six (6) months to October 15, 2026 (“New Maturity Date”), and (ii) to increase the aggregate dollar capacity of the Line of Credit Agreement by fifty percent from a previous total of $1,000,000 to a new aggregate total of $1,500,000

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

SUNation Energy, Inc. incurred revolving credit of up to an aggregate principle amount $1,000,000 with MBB Energy, LLC at 8% maturing one (1) year.

Instrument: revolving credit
Principal: up to an aggregate principle amount $1,000,000
Counterparty: MBB Energy, LLC
Rate: 8%
Maturity: one (1) year
Event: incurrence

Exact text from the filing

the Company may request one or more loans of up to an aggregate principle amount $1,000,000 under this line of credit for a period of one (1) year (the “Term”) from the date or entry. Any loans drawn by the Company under this line of credit facility will carry interest on an annualized basis of 8%

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Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

SUNation Energy, Inc. issued common stock to Scott Maskin and James Brennan for conversion of up to $1,200,000 of debt.

Security: common stock
Purchaser: Scott Maskin and James Brennan
Consideration: conversion of up to $1,200,000 of debt

Exact text from the filing

On April 14, 2026, the Board of Directors approved entry into a “Debt Conversion Agreement” in connection with the conversion of up to $1,200,000 of debt payable under the Long-Term Note into shares of restricted common stock (the “Conversion Shares”) of the Company pursuant to Regulation D of the Securities Act of 1933, as amended, on the following terms: (1) the Conversion Shares shall consist of restricted shares of voting common stock, par value $.05 per share, (2) the Conversion Shares shall be issued at a price per share of $1.77

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SUNation Energy, Inc. amended Line of Credit Agreement with MBB Energy, LLC valued at increase the aggregate dollar capacity ... from a previous total of $1,000,000 to a new aggregate to (effective 2026-04-14).

Action: amendment
Agreement: credit facility
Counterparty: MBB Energy, LLC
Value: increase the aggregate dollar capacity ... from a previous total of $1,000,000 to a new aggregate to
Effective: 2026-04-14

Exact text from the filing

On April 14, 2026, the Board of Directors of the Company agreed to amend the Line of Credit Agreement and the Line of Credit Note in two principal respects: (i) to extend the Maturity Date by six (6) months to October 15, 2026

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

SUNation Energy, Inc. amended Long-Term Promissory Note (effective 2026-04-14).

Action: amendment
Agreement: notes offering
Effective: 2026-04-14

Exact text from the filing

On April 14, 2026, the Board of Directors approved entry into a "Debt Conversion Agreement" in connection with the conversion of up to $1,200,000 of debt payable under the Long-Term Note into shares of restricted common stock

View on SEC.gov

39 debt financings filed in the last 30 days. Browse all debt financings →

SUNation Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-26-043846

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