Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 237

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 237
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 and one-half (5 1/2)
years after its date of issuance.

On December 4, 2024, the Company entered into
a Note Purchase Agreement (the “Purchase Agreement”) with Secure Net Capital LLC (“Secure Net”), pursuant to which
the Company issued a 20% Original Issue Discount promissory convertible note (the “2024 Note”) with a maturity date in April
2025, which was extended to November 5, 2025, in the principal sum of $1,250,000. Pursuant to the terms of the 2024 Note, the Company
agreed to pay to Secure Net the entire principal amount on the Maturity Date, failing which and certain events of default (as described
in the 2024 Note), the 20% Original Issue Discount shall increase to 30% Original Issue Discount. The Purchase Agreement resulted in net
proceeds of $1,000,000 to the Company. The 2024 Note, issued pursuant to the Purchase Agreement, is convertible at the option of the Holder
at any time after the Maturity Date, including with registration rights, at a conversion price per share equal to ninety percent (90%)
of the Company’s common stock’s VWAP (which is the three (3) Trading Days immediately prior to such Conversion Date (or the
nearest preceding date)) as of the date of such conversion (the “Conversion Date”).

On December 11, 2024, the Company entered into
an agreement with LiiON LLC as part of the business acquisition for a $2,000,000 note with a maturity date of December 31, 2027. Subsequent
to December 31, 2024, on April 28, 2025, the Company and LiiON LLC mutually agreed to rescind the Asset Purchase Agreement. See Footnote
5 for further information on.

On December 30, 2024, the Company assumed a $1,041,720
(€1,000,000) promissory note from AEG with a 10% interest maturing July 31, 2025. Additionally, the Company assumed multiple promissory
notes totaling $1,025,000 million from AEG maturing June 30, 2025. This note had a principal outstanding balance of $1 million as of June
30, 2025 and December 31, 2024.

On December 31, 2024