Item 8.01. Other Events.

On December 7, 2020, Sunworks, Inc. (the "Company") issued a press release announcing that the Company had sold approximately 3.8 million shares of its common stock, raising approximately $20 million in gross proceeds through "at the market" offerings under its prospectus supplement filed on November 25, 2020 (the "ATM Sales"). The Company used a portion of the proceeds from the ATM Sales to fully repay the outstanding balance of approximately $2.7 million under its Loan Agreement with CrowdOut Capital, Inc. Pursuant to the Loan Agreement, interest was payable on promissory notes (the "Notes"), at the rate of the one-month London Interbank Offered Rate (LIBOR) plus 950 basis points and the outstanding amount included a $435,000 exit fee. The Notes would have matured on January 31, 2021.

A copy of the press release is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.






(d) Exhibits.



Number   Description

99.1       Press Release, dated December 7, 2020.

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