Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 235

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 235
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 any day during the period commencing twenty (20) trading days
prior to the applicable Installment Notice Date or Interest Date (each as defined in the Convertible Note) through the later of the applicable
Installment Date or Interest Date and the date on which the applicable shares of Common Stock are actually delivered to the Holder, the
Equity Conditions have not been satisfied (or waived in writing by the Holder). This note had a principal outstanding balance of $0.5
and $2.2 as of June 30, 2025 and December 31, 2024, respectively.

On October 21, 2024, pursuant to the Purchase
Agreement, the closing of the second tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant to purchase
813 shares of Common Stock exercisable at $400 per share and the Company received gross proceeds of $535,000, before fees and other expenses
associated with the transaction, accounting for the 12% original issue discount. This warrant was adjusted on November 12, 2024 and on
December 5, 2024, such that as of June 30, 2025, the warrant was adjusted to purchase up to 1,626 shares at an exercise price of $200
per share. In conjunction with the transaction, the Company issued warrants for the purchase of 81 shares of common stock with an exercise
price of $440 per share for their role as placement agent, which is exercisable at any time on or after April 21, 2024 and will expire
on the third anniversary of the effective date of the registration statement registering the underlying warrant shares.

On November 12, 2024, pursuant to the Purchase
Agreement, the closing of the third tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant to purchase
1,520 shares of Common Stock exercisable at $300 per share and the Company received gross proceeds of $750,000, before fees and other
expenses associated with the transaction, accounting for the 12% original issue discount. This warrant was adjusted on December 5, 2024
so that as of June 30, 2025, the warrant was adjusted to purchase up to 2,280 shares at an exercise price of $200 per share. In conjunction
with the transaction, the Company issued warrants for the purchase of 114 shares of common stock with an exercise price of $