SUNE · SUNation Energy Inc.

SUNation Energy executed amendments to its secured revolving line of credit with MBB Energy, LLC, increasing the maximum credit line from $1,000,000 to $1,500,000 and extending the maturity to October 15, 2026, with interest at 8% per annum. This provides additional liquidity flexibility while maintaining secured terms under New York law. Concurrently, the company converted $1,200,000 of principal and interest under its Long-Term Senior Secured Promissory Note—held by CEO Scott Maskin and CFO James Brennan—into 677,966 restricted common shares at $1.77 per share, a 10% premium to the April 13, 2026, Nasdaq closing price of $1.61. Maskin receives 554,712 shares and Brennan 123,254 shares, subject to a 180-day lock-up and Rule 144 restrictions as affiliates. Issued under Regulation D to accredited investors, this unregistered offering reduces leverage, eliminates near-term debt service through September 2026, and aligns management with equity value creation. The press release frames this as part of ongoing balance sheet simplification, following $14 million in prior debt reductions, supporting strategic review efforts amid going concern risks and Nasdaq listing challenges.