Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2096

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 6
Chunk 2096
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 twenty (20) Trading Days immediately prior to the Conversion
Date. Unless mutually agreed upon, the Conversion Price shall not be less than $0.0001. The maturity date of the 2024 Notes shall be
extended to December 31, 2025. Purusant to the Letter Agreement, the Company agreed to issue the Investor a warrant (the “Warrant”)
to purchase up to 34,000,000 shares of the Company’s common stock, $0.0001 par value per share (the “Common Stock”),
at an exercise price of $0.03 per share (the “Exercise Price”). The Warrant is exercisable immediately and will expire on
the date that is five and one-half (5 1/2) years after its date of issuance.

Also on April 28, 2025, the
Company entered into a Settlement Agreement and Stipulation (the “Agreement”) with Southern Point Capital Corporation (“SPC”),
pursuant to which the Company agreed to issue Common Stock to SPC in exchange for the settlement of an aggregate of $4,242,963.60 (the
“Settlement Amount”) to resolve outstanding overdue liabilities with different vendors. On May 1, 2025, the Circuit Court
of the Twelfth Judicial Circuit in and for Manatee County, Florida (the “Court”), entered an order (the “Order”)
approving, among other things, the fairness of the terms and conditions of an exchange pursuant to Section 3(a)(10) of the Securities
Act in accordance with a stipulation of settlement, pursuant to the Agreement between the Company and SPC. SPC commenced action against
the Company to recover the Settlement Amount of past-due obligations and accounts payable of the Company (the “Claim”), which
SPC had purchased from certain vendors of the Company pursuant to the terms of separate receivable purchase agreements between SPC and
each of such vendors. The Order provides for the full and final settlement of the Claim and the related action. The Agreement became
effective and binding upon execution of the Order by the Court on April 30, 2025. Pursuant to the terms of the Agreement approved by
the Order, the Company agreed to issue to SPC shares (the “Settlement Shares”) of the Company’s Common Stock. The Settlement
Agreement provides that the Settlement Shares will be issued in one or more tranches, as necessary, sufficient to satisfy the Settlement
Amount