Pineapple Energy Inc. Files 8-K with Material Agreement
Ticker: SUNE · Form: 8-K · Filed: Oct 21, 2024 · CIK: 22701
Sentiment: neutral
Topics: material-agreement, filing, corporate-update
Related Tickers: PEGY
TL;DR
Pineapple Energy (PEGY) filed an 8-K on Oct 21, 2024, indicating a material definitive agreement.
AI Summary
On October 21, 2024, Pineapple Energy Inc. filed an 8-K report. The filing indicates an entry into a material definitive agreement and includes financial statements and exhibits. The company is incorporated in Minnesota and its principal executive offices are located at 10900 Red Circle Drive, Minnetonka, MN 55343.
Why It Matters
This filing signals a significant development for Pineapple Energy Inc., potentially involving a new contract or partnership that could impact its business operations and financial performance.
Risk Assessment
Risk Level: medium — The filing of an 8-K for a material definitive agreement suggests a significant event, but the lack of specific details about the agreement itself introduces uncertainty.
Key Players & Entities
- Pineapple Energy Inc. (company) — Registrant
- October 21, 2024 (date) — Date of Report
- Minnesota (location) — State of Incorporation
- 10900 Red Circle Drive Minnetonka, MN 55343 (location) — Principal Executive Offices Address
- Pineapple Holdings, Inc. (company) — Former Company Name
- COMMUNICATIONS SYSTEMS INC (company) — Former Company Name
FAQ
What is the nature of the material definitive agreement entered into by Pineapple Energy Inc. on October 21, 2024?
The filing does not specify the details of the material definitive agreement, only that one has been entered into.
What are the key financial statements or exhibits included with this 8-K filing?
The filing states that financial statements and exhibits are included, but the specific contents are not detailed in the provided text.
When was Pineapple Energy Inc. incorporated, and in which state?
Pineapple Energy Inc. was incorporated in Minnesota.
What is the principal executive office address for Pineapple Energy Inc.?
The principal executive office address is 10900 Red Circle Drive, Minnetonka, MN 55343.
Has Pineapple Energy Inc. undergone any previous name changes?
Yes, the company was formerly known as Pineapple Holdings, Inc. (name change effective March 28, 2022) and prior to that, COMMUNICATIONS SYSTEMS INC (name change effective April 1, 1995).
Filing Stats: 1,113 words · 4 min read · ~4 pages · Grade level 11.8 · Accepted 2024-10-21 08:00:18
Key Financial Figures
- $0.05 — h registered Common Stock, par value, $0.05 per share PEGY The Nasdaq Stock Marke
- $10,000,000 — s in an aggregate offering amount up to $10,000,000 under the Sales Agreement. Sales of the
- $50,000 — es Agreement in an amount not to exceed $50,000 in the aggregate. The Company made ce
Filing Documents
- pegy241099_8k.htm (8-K) — 43KB
- pegy241099_ex5-1.htm (EX-5.1) — 17KB
- pegy241099_ex10-1.htm (EX-10.1) — 212KB
- img001_v1.jpg (GRAPHIC) — 5KB
- img002_v1.jpg (GRAPHIC) — 5KB
- img003_v1.jpg (GRAPHIC) — 2KB
- 0000897101-24-000543.txt ( ) — 513KB
- pegy-20241021.xsd (EX-101.SCH) — 3KB
- pegy-20241021_lab.xml (EX-101.LAB) — 33KB
- pegy-20241021_pre.xml (EX-101.PRE) — 22KB
- pegy241099_8k_htm.xml (XML) — 3KB
01. Entry Into a Material Definitive Agreement
Item 1.01. Entry Into a Material Definitive Agreement. On October 21, 2024, Pineapple Energy Inc. ("Pineapple" or the "Company") entered into a At The Market Offering Agreement (the "Sales Agreement") with Roth Capital Partners, LLC ("Roth" or the "Sales Agent"). Pursuant to the Sales Agreement, the Sales Agent will act as the Company's agent with respect to an offering and sale, at any time and from time to time, of the Company's common stock, par value $0.05 per share (the "Shares"). The Company has authorized the sale, at its discretion, of Shares in an aggregate offering amount up to $10,000,000 under the Sales Agreement. Sales of the Shares, if any, will be made in "at the market offerings" as defined in Rule 415 under the Securities Act of 1933, as amended (the "Securities Act"). The Sales Agent will use commercially reasonable efforts consistent with normal trading and sales practices. The Shares will be sold and issued pursuant to the Company's Registration Statement on Form S-3 which was filed on August 25, 2022 with, and declared effective on September 2, 2022 by, the Securities and Exchange Commission (File No. 333-267066, the "Registration Statement"), and a related prospectus, as supplemented by a prospectus supplement related to the Company's "at the market offering". Concurrently herewith, we are filing a prospectus supplement (the "Prospectus Supplement"), dated October 21, 2024, with the U.S. Securities and Exchange Commission in connection with the offer and sale of the Shares. We are not obligated to make any sales of Shares under the Sales Agreement and no assurance can be given that we will sell any Shares under the Sales Agreement, or, if we do, as to the price or amount of Shares that we will sell, or the dates on which any such sales will take place. The Company or the Sales Agent, under certain circumstances and upon notice to the other, may suspend the offering of the Shares under the Sales Agreement. The offering of the Shares pursua
SIGNATUREs
SIGNATUREs Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. PINEAPPLE ENERGY INC. By: /s/ James Brennan James Brennan Chief Operating Officer Date: October 21, 2024