Pineapple Energy (PEGY) Prices 2.7M Share Offering at $0.37/sh

Pineapple Energy Inc. (NASDAQ: PEGY) (“Pineapple” or the “Company”), a leading provider of sustainable solar energy and back-up power to households and small businesses, today announced it has entered into a definitive agreement with investors for the purchase and sale of 2,702,703 shares of the Company’s common stock at a purchase price of $0.37 per share in a registered direct offering. The gross proceeds to Pineapple from the offering are expected to be approximately $1.0 million, before deducting placement agent fees and other offering expenses payable by Pineapple. The offering is expected to close on or about February 7, 2024, subject to customary closing conditions.

Roth Capital Partners is acting as the sole placement agent for the offering.

Pineapple intends to use the proceeds from the proposed offering for working capital and other general corporate purposes.

The shares of common stock are being offered and sold by the Company pursuant to an effective shelf registration statement on Form S-3 (File No. 333-267066) previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on September 2, 2022. The offering of such securities is being made only by means of a prospectus supplement that forms a part of the registration statement. Copies of the prospectus supplement and accompanying base prospectus will be filed with the SEC and, when available, may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, Attention: Prospectus Department, by telephone at (800) 678-9147 or by accessing the SEC's website, www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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