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SUNation Energy Eliminates The Remainder Of ~ $1.1M Legacy Debt And Reduced Its Monthly Repayments Related To A Long-term Debt Obligation Of Its Wholly-Owned Subsidiary SUNation Solar Systems

Benzinga·02/03/2026 21:53:50
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SUNation Energy Inc. (NASDAQ:SUNE) ("SUNation" or the "Company"), a leading provider of sustainable solar energy and backup power solutions to residential, commercial, and municipal customers, today announced that it has eliminated the remainder of approximately $1.1M (of an original $2.5m) and substantially reduced its monthly repayments related to a long-term debt obligation of its wholly-owned subsidiary SUNation Solar Systems, significantly improving ongoing cash flow and strengthening the Company's balance sheet.

The debt obligation originated from an April 2021 buyout agreement related to the retirement of a former SUNation Solar Systems shareholder. Prior to reaching this settlement, the promissory note carried remaining principal of approximately $1.1M and required monthly payments of approximately $25,000 for nearly five additional years (to 2031).