SUNation Energy Files 8-K with Financials
Ticker: SUNE · Form: 8-K · Filed: Jan 7, 2025 · CIK: 22701
Sentiment: neutral
Topics: financial-statements, disclosure
TL;DR
SUNation Energy dropped an 8-K with financials, check it out.
AI Summary
SUNation Energy, Inc. filed an 8-K on January 7, 2025, reporting events as of December 30, 2024. The filing primarily concerns a Regulation FD Disclosure and includes Financial Statements and Exhibits. The company was formerly known as Pineapple Energy Inc. and Pineapple Holdings, Inc.
Why It Matters
This 8-K filing provides updated financial information and disclosures for SUNation Energy, Inc., which is crucial for investors to assess the company's current financial health and operational status.
Risk Assessment
Risk Level: low — This filing is a routine 8-K reporting financial statements and exhibits, with no immediate indication of significant negative events.
Key Players & Entities
- SUNation Energy, Inc. (company) — Registrant
- Pineapple Energy Inc. (company) — Former company name
- Pineapple Holdings, Inc. (company) — Former company name
- December 30, 2024 (date) — Date of earliest event reported
- January 7, 2025 (date) — Filing date
FAQ
What is the primary purpose of this 8-K filing for SUNation Energy, Inc.?
The primary purpose of this 8-K filing is to provide a Regulation FD Disclosure and to report Financial Statements and Exhibits as of December 30, 2024.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted to the SEC on January 7, 2025.
What were SUNation Energy, Inc.'s previous names?
SUNation Energy, Inc. was formerly known as Pineapple Energy Inc. and Pineapple Holdings, Inc.
What is the fiscal year end for SUNation Energy, Inc.?
The fiscal year end for SUNation Energy, Inc. is December 31.
In which state was SUNation Energy, Inc. incorporated?
SUNation Energy, Inc. was incorporated in Delaware.
Filing Stats: 752 words · 3 min read · ~3 pages · Grade level 12.8 · Accepted 2025-01-06 17:36:02
Key Financial Figures
- $0.35 — 2024 the Company distributed, pro rata, $0.35 per CVR to the CVR holders, which repre
- $850,269 — ich represented a total distribution of $850,269. Following this distribution, the third
Filing Documents
- ea0226851-8k_sunation.htm (8-K) — 26KB
- ea022685101ex10-1_sunation.htm (EX-10.1) — 16KB
- 0001213900-25-001253.txt ( ) — 215KB
- sune-20241230.xsd (EX-101.SCH) — 3KB
- sune-20241230_lab.xml (EX-101.LAB) — 33KB
- sune-20241230_pre.xml (EX-101.PRE) — 22KB
- ea0226851-8k_sunation_htm.xml (XML) — 3KB
01 Regulation
Item 7.01 Regulation FD Disclosure Extension of CVR Agreement As previously disclosed in earlier Securities Exchange Act filings, on March 25, 2022, the Company, then known as Communication Systems Inc. ("CSI"), issued non-transferable Contingent Value Rights ("CVRs") in connection with its merger on March 28, 2022 (the "Merger") with Pineapple Energy, LLC. Each CVR represents the right to receive a pro rata portion of net cash proceeds derived from the disposition of CSI's assets following the Merger that CSI owned at the time of the Merger. The CVRs were issued pursuant to the terms of the Contingent Value Rights Agreement dated March 25, 2022 ("CVR Agreement") which governs the rights of Pineapple and the CVR Holders. On March 27, 2024 the term of the CVR Agreement was extended from March 31, 2024 to December 31, 2024. In November 2024 the Company distributed, pro rata, $0.35 per CVR to the CVR holders, which represented a total distribution of $850,269. Following this distribution, the third since March 2022, the Company continues to hold proceeds from the sale of CSI's pre-merger assets in a restricted cash account. However, the remaining restricted cash is subject to Pineapple's right under the CVR Agreement to be paid for all its "Monetization Expenses" related to CSI's pre-merger operations, including the resolution of pending claims, Pineapple's rights to be reimbursed for CSI related wind-up expenses, and other contingencies. The resolution of these matters has taken longer than anticipated and, accordingly, the Company and the designated representative of the CVR holders have agreed to extend the term of the CVR agreement to December 31, 2025 pursuant to the terms of a Second Amendment to the CVR agreement, which is annexed hereto as Exhibit 10.1 to this Current Report on form 8-K report. Liquidation of Inactive Subsidiaries Pursuant to the terms of the CVR Agreement, the Company has sold substantially all of the assets related to JDL Technologie
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. Exhibit No. Description 10.1 Second Amendment to Contingent Value Rights Agreement dated March 25, 2022 by and among the Company, Equiniti Trust Company, as Rights Agent, and Richard A. Primuth in his capacity as the initial CVR Holders' Representative, dated December 30, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
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. SUNATION ENERGY, INC. By: /s/ James Brennan James Brennan Chief Operating Officer Date: January 6, 2025 2