Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 48

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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 of Directors ratified amendments to each of VestCo Corp. (a company owned and controlled by Mr. Browne) and Mr.
Thomas’ consulting services agreements, such that these agreements were assigned to the Company and VestCo’s fees increased
by $10,000 per month and Mr. Thomas’ fees increased by $8,090 per month, effective January 1, 2025.

On April 21, 2025 the Company
issued a total of 96,820,000 shares of restricted common stock valued at $2,904,600, including 11,000,000 shares to Alternus Energy Group
PLC, a related party, 3,000,000 shares to each of our 4 current independent directors (Ms. Bjornov, Mr. Wikborg, Mr. Parker and Mr. Ratner)
and one past director, Mr. Chaudhri, 15,000,000 shares each to Mr. Browne, our CEO, and Mr. Thomas, our executive director, 5,000,000
shares to Ms. Durant, our CLO, 2,500,000 shares to an employee for past services rendered, 5,750,000 shares to Hover Energy LLC for certain
assets acquired and 27,570,000 shares to four accredited third party debt holders.

On April 24, 2025 the Company
issued an additional 50,000 shares of Series A Super Voting Preferred Stock to Mr. Browne.

30

On April 25, 2025, Mr. Vincent
Browne, our Chief Executive Officer, Interim Chief Financial Officer and shareholder with majority voting rights, representing 87% of
the shares entitled to vote, approved an amendment to our Certificate of Incorporation to increase the total number of authorized shares
of common stock from 300,000,000 to 600,000,000.

On April 28, 2025, the Company
entered into a Note Purchase Agreement (the “Purchase Agreement”), by and between the Company and an institutional investor
(the “Investor”), pursuant to which the Company agreed to issue to the Investor promissory notes in the aggregate total principal
amount of up to $558,000, with the first tranche of $318,000 closing immediately and the remaining $240,000 to close upon request of the
Company and at the Investor’s discretion, having a 16.67% original issue discount, an interest rate of 12% per