SUNation Energy, Inc. (SUNE) a provider of sustainable solar energy, Wednesday announced that its Board of Directors approved a 200 - for 1 reverse stock split of the company's outstanding common stock effective April 21, 2025.
The company's common stock will continue to trade under the symbol "SUNE" and it is expected to open for trading on Nasdaq on April 21, 2025 on a post-split basis.
The ratio of the reverse stock split is within the range approved by shareholders at a Special Meeting of Shareholders held on April 3, 2025. The reverse stock split is primarily intended to increase the market price per share of the Company's common stock to regain compliance with the minimum bid price required for continued listing on The Nasdaq Capital Market.
Upon the effectiveness of the reverse stock split, every 200 shares of issued and outstanding Company common stock at the close of business on April 17, 2025 will be automatically combined into one issued and outstanding share of common stock, with no change in par value per share.
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