Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 25

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 25
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 maintain compliance with Nasdaq listing standards. 5

Resignation of our Chief Financial Officer.On April 25, 2024, Joseph E. Duey, the Company’s now former Chief Financial Officer, resigned, effective as of April 30, 2024. Mr. Duey advised the Company that his decision to step down from the role of Chief Financial Officer was not based on any disagreement with the Company on any matter relating to its operations, policies or practices. Vincent Browne, the Company’s Chief Executive Officer, will act as interim Chief Financial Officer. The Company will be seeking a suitable replacement in due course. April 3i Note Transaction.On April 19, 2024, we entered into the Purchase Agreement with 3i, LP pursuant to which we sold, and 3i, LP purchased, (a) a senior unsecured convertible note issued by the Company (the “ April 2024 Convertible Note”) with an aggregate principal amount of $2,160,000, which is convertible into shares of our common stock, par value $0.0001 per share, and (b) a warrant (the “ April 3i Warrant”) to purchase an aggregate of 96,443 shares of common stock (the “ April 3i Note Transaction”), subsequently adjusted on December 2, 2024 to purchase an aggregate 1,157,322 shares at an exercise price of $1.00 per share, pursuant to the Adjustment Notice. Additionally, a warrant to purchase 9,644 shares of common stock (the “ Placement Agent Warrant”) was issued to Maxim Partners LLC as designee of Maxim Group LLC in its role as placement agent of the Securities (the “ Placement Agent”). The April 3i Note Transaction closed on April 19, 2024. The gross proceeds to us from the April 3i Note Transaction, prior to the payment of transaction expenses, was $2,000,000. The Purchase Agreement contains customary representations, warranties, and covenants of the Company and the Note Investor. For a more detailed description of the 3i Convertible Note Transaction see “ April 3i Note Transaction” under “ Description of Securities”, on page 112. As of January 24, 2025, 3i has converted a total of $1,752,430 of the April 2024 Convertible Note into 1,026,256 shares of common stock. Additionally, on December 2, 2024,