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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.