SUNation Energy retires senior, junior secured debt in full

SUNation Energy (SUNE) has repaid in full all of the accrued principal and interest associated with a total of $9.4M in senior and junior secured loans with maturity dates ranging between July 2025 and June 2027. 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 $3.4M through 2027. As previously disclosed, on February 27, 2025, SUNation consummated the first tranche of a securities offering for gross proceeds of $15M. The secured loan repayments were made using a portion of the proceeds from the Equity Offering.