---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-26-043846"
form_type: "8-K"
ticker: "SUNE"
cik: "0000022701"
company_name: "SUNation Energy, Inc."
filed_at: "2026-04-15T23:59:59+00:00"
generated_at: "2026-05-15T06:12:38.516975+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SUNation converts $1.2M debt to equity at 10% premium; extends credit line to $1.5M

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-26-043846
- form_type: 8-K
- ticker: SUNE
- cik: 0000022701
- company_name: SUNation Energy, Inc.
- filed_at: 2026-04-15T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/ea0286436-8k_sunation.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-26-043846
- JSON: https://secwatch.observer/filing/0001213900-26-043846.json
- Plain text: https://secwatch.observer/filing/0001213900-26-043846.txt

## Source-grounded claims
- claim_id: 15f38ac188034308c1a7936ba22e996043b486d8
  claim: SUNation Energy, Inc. amended senior notes of $5,486,000 maturing May 1, 2028.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm
- claim_id: 1f7b63a5c71f0a6582c865c40b46485c9efb883b
  claim: 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.
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm
- claim_id: cfaf1cc543fefd08a8c8418b2a7bab33bac7630a
  claim: 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.
  evidence_excerpt: 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%
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm
- claim_id: a1c3b852d77662e6d8fe1cd465087fadab316aee
  claim: 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).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm
- claim_id: abf0bfd9dd09ef639bbdc796a020c676adc18577
  claim: SUNation Energy, Inc. amended Long-Term Promissory Note (effective 2026-04-14).
  evidence_excerpt: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/22701/000121390026043846/0001213900-26-043846-index.htm

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