Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 183

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 183
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 a floor conversion price of $0.75 per share (the “Floor Price”), a limitation required by the rules and regulations of the Nasdaq, and certain exceptions upon any subsequent transaction at a price lower than the Conversion Price then in effect and standard adjustments in the event of stock dividends, stock splits, combinations or similar events. 121 Alternatively, in the event of an event of default continuing for 20 trading days and ending with Event of Default Redemption Right Period (as defined in the Convertible Note), the Conversion Price may be converted to an “Alternate Conversion Price”, which is defined as the lower of (i) the applicable Conversion Price as in effect on the applicable Conversion Date of the applicable Alternate Conversion (as defined in the October Convertible Notes), and (ii) the greater of (x) the Floor Price and (y) 90% of the lowest VWAP of the Common Stock during the fifteen (15) consecutive trading day period ending on and including the trading day immediately preceding the delivery or deemed delivery of the applicable Conversion Notice. These conversions shall be further subject to Redemption Premiums, as is further described in the October Convertible Notes. The October Convertible Notes may not be converted and shares of common stock may not be issued under the October Convertible Notes if, after giving effect to the conversion or issuance, the Investor together with its affiliates would beneficially own in excess of 4.99% (or, upon election of the Investor, 9.99%) of the outstanding common stock. In addition to the beneficial ownership limitations in the October Convertible Notes, the sum of the number of shares of common stock that may be issued under that certain October Purchase Agreement (including the October Convertible Notes and the October 3i Warrant and common stock issued thereunder) is limited to 19.99% of the outstanding common stock as of October 1, 2024 (the “Exchange Cap”, which is equal to 698,270 shares of common stock, subject to adjustment as described in the October Purchase Agreement), unless shareholder approval (as defined in the October Purchase Agreement) (“Stockholder Approval”) is obtained by the Company to issue more than the Exchange Cap. The Exchange Cap shall be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction. On September 26, 2024 the Company’s shareholders approved the potential issuance of shares by the Company of more than the Exchange Cap. Under the October Purchase Agreement, the Company