M&A - Pineapple Energy Inc.

Form Type: 10-K

Filing Date: 2025-04-15

Corporate Action: Acquisition

Type: New

Accession Number: 000002270125000002

Filing Summary: SUNation Energy, Inc.'s annual report for the fiscal year ending December 31, 2024, highlights the company's ongoing growth strategies and business activities, including the acquisition of SUNation. The report outlines risks related to maintaining Nasdaq listing requirements, potential dilution of shares, and the effectiveness of their internal controls, which identified material weaknesses. Key data includes the outstanding shares of 672,799,910, and financial implications due to additional capital stock issuance. Furthermore, the report emphasizes the importance of effective communication with shareholders and managing investments judiciously, emphasizing their commitment to compliance and transparency.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Merger

Type: Update

Accession Number: 000121390025001253

Filing Summary: On December 30, 2024, SUNation Energy, Inc. reported an extension of the Contingent Value Rights (CVR) Agreement initially established on March 25, 2022, in connection with its merger with Pineapple Energy, LLC. The CVR agreement's term has been extended to December 31, 2025, allowing CVR holders to continue receiving net cash proceeds from the sale of assets associated with Communication Systems Inc. (CSI). In November 2024, the company distributed $0.35 per CVR to holders, totaling $850,269. The remaining cash is subject to Pineapple's claim for reimbursement of expenses related to CSI. Additionally, the company has dissolved its inactive subsidiaries, JDL Technologies, Inc. and Ecessa Corporation, as they no longer serve a business purpose, aiming for cost savings for their operations.