Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 266

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 266
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 the Netherlands, Rilland. The sale closed on February 21, 2024 and Solis received EUR 6.5million (approximately $ 7million). The proceeds were used to pay down the Solis Bond. Also on January 16, 2024, AEG MH 04 Limited was incorporated in Ireland as a wholly owned subsidiary of Alternus Lux 01 S.a.r.l. On January 17, 2024, a subsidiary of the Company known as AEG JD 03 Limited changed its name to Alternus Europe Limited. On January 19, 2024, all operating parks in Poland were sold by Solis in exchange for EUR 54.4million (approximately $ 59.1million). The proceeds were used to pay down the Solis Bond. On January 23, 2024 we issued 81,301shares of restricted common stock valued at $ 1.01per share to a third party consultant in exchange for services. On February 5, 2024 we amended and restated a promissory note originally issued October 3, 2023, such that the outstanding amount owed was increased from $ 3.2million to $ 3.55million and the maturity date was extended to February 28, 2025; we also issued to the noteholder warrants to purchase up to 90,000shares of restricted common stock, exercisable at $ 0.01per share having a 5 year term and fair value of $ 86thousand. On February 20, 2024 we issued 100,000shares of restricted common stock valued at $ 0.35per share to a third party consultant in exchange for services. On March 19, 2024 we entered into a settlement agreement with Clean Earth Acquisitions Sponsor, LLC , a related party, and SPAC Sponsor Capital Access (“SCA”) pursuant to which, among other things, we agreed to repay Sponsor’s debt to SCA, related to the CLIN SPAC entity extensions, in the amount of $ 1.4million and issue 225,000shares of restricted common stock valued at $ 0.47per share to SCA. On March 20, 2024, we received a letter from The Nasdaq Stock Market notifying us that, because the closing bid price for our common stock has been below $ 1.00per share for 30 consecutive business days, our common stock no longer complies with the minimum