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SUNation Energy Secures $1M Loan Amid Legal Challenges

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SUNation Energy Secures $1M Loan Amid Legal Challenges

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SUNation Energy ( (SUNE) ) has shared an update.

SUNation Energy secured a $1 million bridge loan from Conduit Capital U.S. Holdings LLC on July 22, 2024, with a 20% original issue discount and interest rate, secured by the company’s assets. The company also entered into an ATM Offering Agreement with Roth Capital Partners, authorizing the sale of up to $10 million in common stock, raising over $2.8 million by November 2024. Additionally, SUNation resolved a contractual dispute related to Series A Warrants by issuing shares to settle potential claims, preserving cash for operations. Legal proceedings include a landlord dispute over insurance obligations and a potential claim regarding defective third-party equipment, both of which SUNation intends to defend vigorously.

More about SUNation Energy

YTD Price Performance: -54.18%

Average Trading Volume: 97,523

Technical Sentiment Consensus Rating: Strong Buy

Current Market Cap: $2.22M

For a thorough assessment of SUNE stock, go to TipRanks’ Stock Analysis page.

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