SUNation Energy (SUNE) said Friday it terminated all the outstanding series A common stock purchase warrants issued in a registered direct offering on Feb. 27.

Under the agreements with the holders of the warrants, there was a one-time termination payment of around $267,392, the company said.

Up to 652,174 shares underlying the terminated warrants will no longer enter the market, removing a "significant source of potential dilution," Chief Executive Scott Maskin said.

Shares of the company were up more than 4% in recent premarket activity.