SUNation Energy Announces Retirement of Senior and Junior Secured Debt in Full
SUNation Energy (Nasdaq: SUNE) has announced the complete repayment of $9.4 million in senior and junior secured loans, with original maturity dates between July 2025 and June 2027. The debt retirement eliminates monthly payment obligations and removes restrictive covenants, resulting in an annual cash savings of approximately $3.4 million through 2027.
The loan repayments were funded using proceeds from a recently completed $15 million Equity Financing, with the first tranche consummated on February 27, 2025. This strategic move has significantly deleveraged the company's balance sheet, improving cash flow for operations and providing financial flexibility for future growth initiatives, including potential strategic acquisitions of regional solar companies across the United States.
SUNation Energy (Nasdaq: SUNE) ha annunciato il completo rimborso di 9,4 milioni di dollari in prestiti garantiti senior e junior, con date di scadenza originali comprese tra luglio 2025 e giugno 2027. Il rimborso del debito elimina gli obblighi di pagamento mensili e rimuove le clausole restrittive, risultando in un risparmio annuale di circa 3,4 milioni di dollari fino al 2027.
I rimborsi dei prestiti sono stati finanziati utilizzando i proventi di un recente finanziamento azionario da 15 milioni di dollari, con la prima tranche conclusa il 27 febbraio 2025. Questa mossa strategica ha significativamente ridotto il debito dell'azienda, migliorando il flusso di cassa per le operazioni e fornendo flessibilità finanziaria per future iniziative di crescita, comprese potenziali acquisizioni strategiche di aziende solari regionali negli Stati Uniti.
SUNation Energy (Nasdaq: SUNE) ha anunciado el reembolso completo de 9.4 millones de dólares en préstamos garantizados senior y junior, con fechas de vencimiento originales entre julio de 2025 y junio de 2027. La eliminación de la deuda elimina las obligaciones de pago mensual y quita las cláusulas restrictivas, resultando en un ahorro anual de aproximadamente 3.4 millones de dólares hasta 2027.
Los reembolsos de los préstamos se financiaron utilizando los ingresos de un reciente financiamiento de capital de 15 millones de dólares, con la primera parte consumada el 27 de febrero de 2025. Este movimiento estratégico ha reducido significativamente el apalancamiento del balance de la empresa, mejorando el flujo de efectivo para las operaciones y proporcionando flexibilidad financiera para futuras iniciativas de crecimiento, incluidas posibles adquisiciones estratégicas de empresas solares regionales en los Estados Unidos.
SUNation Energy (Nasdaq: SUNE)는 2025년 7월부터 2027년 6월 사이의 원래 만기일을 가진 940만 달러의 선순위 및 후순위 담보 대출을 완전 상환했다고 발표했습니다. 이 부채 상환은 월별 지급 의무를 없애고 제한적인 계약을 제거하여 2027년까지 연간 약 340만 달러의 현금 절약을 가져옵니다.
대출 상환은 최근 완료된 1500만 달러의 자본 조달로 자금을 조달했으며, 첫 번째 분할 지급은 2025년 2월 27일에 이루어졌습니다. 이 전략적 조치는 회사의 대차대조표에서 부채를 대폭 줄여 운영을 위한 현금 흐름을 개선하고, 미국 전역의 지역 태양광 기업에 대한 잠재적인 전략적 인수를 포함한 미래 성장 이니셔티브를 위한 재정적 유연성을 제공합니다.
SUNation Energy (Nasdaq: SUNE) a annoncé le remboursement complet de 9,4 millions de dollars de prêts garantis senior et junior, avec des dates d'échéance originales comprises entre juillet 2025 et juin 2027. Le remboursement de la dette élimine les obligations de paiement mensuel et supprime les clauses restrictives, entraînant des économies annuelles d'environ 3,4 millions de dollars jusqu'en 2027.
Les remboursements de prêts ont été financés grâce aux produits d'un financement en capital de 15 millions de dollars récemment achevé, avec la première tranche conclue le 27 février 2025. Ce mouvement stratégique a considérablement réduit l'endettement du bilan de l'entreprise, améliorant le flux de trésorerie pour les opérations et offrant une flexibilité financière pour de futures initiatives de croissance, y compris de potentielles acquisitions stratégiques d'entreprises solaires régionales aux États-Unis.
SUNation Energy (Nasdaq: SUNE) hat die vollständige Rückzahlung von 9,4 Millionen Dollar an gesicherten Senior- und Junior-Darlehen angekündigt, deren ursprüngliche Fälligkeitstermine zwischen Juli 2025 und Juni 2027 liegen. Die Tilgung der Schulden beseitigt die monatlichen Zahlungsverpflichtungen und entfernt einschränkende Vereinbarungen, was zu jährlichen Einsparungen von etwa 3,4 Millionen Dollar bis 2027 führt.
Die Darlehensrückzahlungen wurden mit den Erlösen aus einer kürzlich abgeschlossenen Eigenkapitalfinanzierung über 15 Millionen Dollar finanziert, wobei die erste Tranche am 27. Februar 2025 abgeschlossen wurde. Dieser strategische Schritt hat die Verschuldung der Bilanz des Unternehmens erheblich reduziert, den Cashflow für den Betrieb verbessert und finanzielle Flexibilität für zukünftige Wachstumsinitiativen, einschließlich potenzieller strategischer Übernahmen regionaler Solarunternehmen in den Vereinigten Staaten, geschaffen.
- Complete retirement of $9.4 million in secured debt
- Annual cash savings of $3.4 million through 2027
- Removal of restrictive loan covenants
- Successful completion of $15 million equity financing
- Improved balance sheet and operational cash flow
- Significant shareholder dilution from $15 million equity financing
RONKONKOMA, N.Y., March 14, 2025 (GLOBE NEWSWIRE) -- SUNation Energy, Inc. (Nasdaq: SUNE) (“SUNation” or the “Company”), a leading provider of sustainable solar energy and backup power solutions for households, businesses, and municipalities, today announced that has repaid in full all of the accrued principal and interest associated with a total of
In connection with these repayments, the respective loan and related agreements were terminated, all associated monthly payment obligations eliminated, and certain material restrictive covenants which were contained in the respective loan agreements were removed. The retirement of this debt removes an annual cash drain of approximately
As previously disclosed, on February 27, 2025, SUNation consummated the first tranche of a securities offering for gross proceeds of
“These repayments have materially deleveraged our balance sheet, resulting in improved cash flow to fund our operations and providing us with financial flexibility to pursue our long-term growth objectives, including strategic acquisitions of regionally strong solar companies across the United States,” said Scott Maskin, Chief Executive Officer. “This marks an important step in our efforts to stabilize our operations and create a strong and sustainable platform to pursue the opportunities inherent in our industry.”
Additional information regarding these repayments is available in a Form 8-K that the Company filed with the U.S. Securities and Exchange Commission ("SEC") on March 13, 2025, a copy of which is available free of charge on the SEC's website at sec.gov.
About SUNation Energy, Inc.
SUNation Energy, Inc. is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation, Hawaii Energy Connection, E-Gear) provide homeowners and businesses of all sizes with an end-to-end product offering spanning solar, battery storage, and grid services. SUNation Energy, Inc.’s largest markets include New York, Florida, and Hawaii, and the company operates in three (3) states.
Forward Looking Statements
This press release includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations or beliefs and are subject to uncertainty and changes in circumstances. While the Company believes its plans, intentions, and expectations reflected in those forward-looking statements are reasonable, these plans, intentions, or expectations may not be achieved. For information about the factors that could cause such differences, please refer to the Company’s filings with the Securities and Exchange Commission, including, without limitation, the statements made under the heading “Risk Factors” in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 and in subsequent filings. The Company does not undertake any obligation to update or revise these forward-looking statements for any reason, except as required by law.
Safe Harbor Statement
Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. The Company intends that such forward-looking statements be subject to the safe harbor provided by the foregoing Sections. These forward-looking statements are based largely on the expectations or forecasts of future events, can be affected by inaccurate assumptions, and are subject to various business risks and known and unknown uncertainties, a number of which are beyond the control of management. Therefore, actual results could differ materially from the forward-looking statements contained in this presentation. The Company cannot predict or determine after the fact what factors would cause actual results to differ materially from those indicated by the forward-looking statements or other statements. The reader should consider statements that include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", "projects", "should", or other expressions that are predictions of or indicate future events or trends, to be uncertain and forward-looking. We caution readers not to place undue reliance upon any such forward-looking statements. The Company does not undertake to publicly update or revise forward-looking statements, whether because of new information, future events or otherwise. Additional information respecting factors that could materially affect the Company and its operations are contained in the Company's filings with the SEC which can be found on the SEC's website at www.sec.gov.
Contacts:
Scott Maskin
Chief Executive Officer
+1 (631) 823-7131
smaskin@sunation.com
SUNation Energy Investor Relations
IR@sunation.com
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