SUNation Energy Announces Reverse Stock Split
SUNation Energy (SUNE) has announced a 200-for-1 reverse stock split effective April 21, 2025, primarily aimed at regaining compliance with Nasdaq's minimum bid price requirements. The split was approved by shareholders at a Special Meeting on April 3, 2025.
The company's current total outstanding shares of 672,799,910 will be reduced to approximately 3,364,000 shares post-split. Trading will continue under the symbol 'SUNE' with a new CUSIP number 72303P503. No fractional shares will be issued, with all fractional interests rounded up to the nearest whole number.
Shareholders with electronic book-entry holdings require no action, while those holding physical certificates will receive instructions from EQ Shareowner Services regarding the exchange process.
SUNation Energy (SUNE) ha annunciato un raggruppamento azionario inverso 200-1 con effetto dal 21 aprile 2025, principalmente volto a ristabilire la conformità ai requisiti minimi di prezzo di offerta del Nasdaq. La decisione è stata approvata dagli azionisti durante un'Assemblea Straordinaria il 3 aprile 2025.
Le attuali azioni totali in circolazione, pari a 672.799.910, saranno ridotte a circa 3.364.000 azioni dopo il raggruppamento. Le negoziazioni continueranno con il simbolo 'SUNE' e un nuovo numero CUSIP 72303P503. Non saranno emesse azioni frazionarie, poiché tutte le frazioni saranno arrotondate per eccesso al numero intero più vicino.
Gli azionisti con titoli elettronici non devono intraprendere alcuna azione, mentre i possessori di certificati fisici riceveranno istruzioni da EQ Shareowner Services riguardo la procedura di scambio.
SUNation Energy (SUNE) ha anunciado una consolidación inversa de acciones 200 a 1 efectiva a partir del 21 de abril de 2025, con el objetivo principal de cumplir nuevamente con los requisitos mínimos de precio de oferta de Nasdaq. La operación fue aprobada por los accionistas en una reunión especial el 3 de abril de 2025.
Las acciones totales en circulación, actualmente 672.799.910, se reducirán a aproximadamente 3.364.000 acciones tras la consolidación. La negociación continuará bajo el símbolo 'SUNE' con un nuevo número CUSIP 72303P503. No se emitirán acciones fraccionarias; todas las fracciones se redondearán al número entero superior más cercano.
Los accionistas con tenencias electrónicas no necesitan realizar ninguna acción, mientras que quienes posean certificados físicos recibirán instrucciones de EQ Shareowner Services sobre el proceso de intercambio.
SUNation Energy (SUNE)는 2025년 4월 21일부터 200대 1 역병합을 시행한다고 발표했으며, 이는 주로 Nasdaq 최소 입찰가 요건을 충족하기 위한 조치입니다. 이 병합은 2025년 4월 3일 특별 주주총회에서 승인되었습니다.
현재 총 발행 주식수 672,799,910주는 병합 후 약 3,364,000주로 줄어듭니다. 거래는 'SUNE' 심볼로 계속되며, 새로운 CUSIP 번호는 72303P503입니다. 소수 주식은 발행되지 않으며, 모든 소수 지분은 가장 가까운 정수로 올림 처리됩니다.
전자등록 주식을 보유한 주주는 별도의 조치가 필요 없으며, 실물 증서 보유자는 EQ Shareowner Services로부터 교환 절차에 관한 안내를 받게 됩니다.
SUNation Energy (SUNE) a annoncé un regroupement d’actions inversé au ratio de 200 pour 1 effectif à partir du 21 avril 2025, visant principalement à retrouver la conformité avec les exigences minimales de prix du Nasdaq. Cette opération a été approuvée par les actionnaires lors d’une assemblée spéciale le 3 avril 2025.
Le nombre total d’actions en circulation, actuellement de 672 799 910, sera réduit à environ 3 364 000 actions après le regroupement. Les échanges continueront sous le symbole 'SUNE' avec un nouveau numéro CUSIP 72303P503. Aucune action fractionnée ne sera émise, toutes les fractions seront arrondies à l’unité supérieure la plus proche.
Les actionnaires détenant des titres électroniques n’ont aucune démarche à effectuer, tandis que ceux possédant des certificats physiques recevront des instructions de la part d’EQ Shareowner Services concernant la procédure d’échange.
SUNation Energy (SUNE) hat eine 200-zu-1 Reverse-Aktienzusammenlegung angekündigt, die am 21. April 2025 wirksam wird. Diese Maßnahme dient in erster Linie dazu, die Einhaltung der Mindestgebotspreisanforderungen der Nasdaq wiederherzustellen. Die Zusammenlegung wurde von den Aktionären auf einer außerordentlichen Hauptversammlung am 3. April 2025 genehmigt.
Die derzeit insgesamt ausstehenden Aktien in Höhe von 672.799.910 werden nach der Zusammenlegung auf etwa 3.364.000 Aktien reduziert. Der Handel wird unter dem Symbol 'SUNE' mit einer neuen CUSIP-Nummer 72303P503 fortgesetzt. Bruchstücke von Aktien werden nicht ausgegeben, alle Bruchteile werden auf die nächste ganze Zahl aufgerundet.
Aktionäre mit elektronischen Buchbeständen müssen nichts unternehmen, während Inhaber physischer Zertifikate Anweisungen von EQ Shareowner Services zum Umtauschprozess erhalten.
- Potential maintenance of Nasdaq listing through compliance with minimum bid requirements
- No shareholder action required for electronic holdings
- Fractional shares rounded up, benefiting smaller shareholders
- Reverse split indicates previous trading below Nasdaq minimum requirements
- Risk of continued price decline even after split implementation
- Possible negative market perception of reverse splits
Insights
SUNation Energy's announcement of a 200-for-1 reverse stock split is a significant red flag that warrants investor concern. With a current share price of just
The extreme ratio of this reverse split (200:1) indicates severe share price deterioration. While the maneuver will mathematically increase the share price to approximately
Historically, companies implementing such drastic reverse splits often continue to experience declining valuations post-split. This action merely buys time to maintain Nasdaq listing but doesn't improve underlying business performance, cash flow, or profitability.
The rounding up of fractional shares might provide minimal benefits to some small shareholders, but this technical detail is overshadowed by the broader implications. The proxy statement filing date of March 10 and shareholder approval on April 3 suggests management has been planning this move for some time as the stock continued declining.
Investors should view this development as a warning sign of potential ongoing financial distress rather than a solution to the company's challenges in the renewable energy sector.
RONKONKOMA, N.Y., April 16, 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 its Board of Directors approved a 200 - for 1 reverse stock split of the Company’s outstanding common stock effective 12:01 a.m. Eastern Time on April 21, 2025.
The Company’s common stock will continue to trade under the symbol “SUNE” and it is expected to open for trading on Nasdaq on April 21, 2025 on a post-split basis. The new CUSIP number for the common stock following the reverse stock split will be 72303P503.
The ratio of the reverse stock split is within the range approved by shareholders at a Special Meeting of Shareholders held on April 3, 2025. The reverse stock split is primarily intended to increase the market price per share of the Company’s common stock to regain compliance with the minimum bid price required for continued listing on The Nasdaq Capital Market.
Upon the effectiveness of the reverse stock split, every 200 shares of issued and outstanding Company common stock at the close of business on April 17, 2025 will be automatically combined into one issued and outstanding share of common stock, with no change in par value per share. The total shares outstanding stands at 672,799,910 as of April 11, 2025. The split, once effective, will result in there being approximately 3,364,000 shares outstanding immediately thereafter.
The reverse stock split does not reduce the number of shares of the Company’s authorized common stock. No fractional shares will be issued as a result of the reverse stock split and all such fractional interests will be rounded up to the nearest whole number of shares of common stock. The reverse stock split will affect all common shareholders uniformly and will not alter any shareholder’s percentage interest in the Company’s common stock, except to the extent that the reverse stock split results in some shareholders experiencing an adjustment of a fractional share as described above.
Shareholders holding their shares electronically in book-entry form are not required to take any action to receive the post-split shares. Shareholders holding physical share certificates will receive information from EQ Shareowner Services, the Company’s transfer agent, regarding the process for exchanging their shares of common stock. Shareholders with questions may contact the Company’s transfer agent by calling 800-401-1957.
Additional information about the reverse stock split can be found in the Company’s definitive proxy statement (the “Proxy Statement”) filed with the Securities and Exchange Commission (the “SEC”) on March 10, 2025, which is available at the SEC’s website, www.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
Our prospects here at SUNation Energy Inc. are subject to uncertainties and risks. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 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 | |
FAQ
When will SUNation Energy's (SUNE) 200-for-1 reverse stock split take effect?
How many shares will SUNE have outstanding after the reverse stock split?
Why is SUNation Energy (SUNE) implementing a reverse stock split?
What happens to fractional shares in SUNE's reverse stock split?
Do SUNE shareholders need to take any action for the reverse stock split?
