Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 184

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 184
---
 also agreed within 120 days following the closing to obtain stockholder approval under Nasdaq Listing Rule 5635(d) to permit issuance of greater than 19.99% of the Company’s outstanding shares of Common Stock as of date of the October Purchase Agreement at a price less than the Minimum Price (as defined in Nasdaq Listing Rule 5635(d)). Prior to the receipt of the Stockholder Approval, no October Convertible Notes may be converted and no October 3i Warrants may be exercised that would cause the Company to issue shares that would cause the Company to breach the rules or regulations of Nasdaq. The Purchase Agreement contains certain representations and warranties, covenants and indemnities customary for similar transactions. In addition, pursuant to the Purchase Agreement, the Company has also agreed to the following covenants: (i) for so long as the earlier of the date on which (x) the Investor ceases to holds the securities, and (y) 90 trading days from the date of the Purchase Agreement, the Company shall not, without the Investor’s prior written consent and subject to certain exceptions, enter into any variable rate transaction or transaction in which a third party is granted the right to receive Company securities based on future transactions of the Company on terms more favorable than those granted to such party pursuant to such initial transaction. The October Convertible Notes contain customary events of default including but not limited to: (i) failure to make payments when due under the October Convertible Notes for a period of at least 5 trading days; (ii) failure to deliver the required number of shares of Common Stock within five trading days after the applicable conversion date ; (iii) bankruptcy or insolvency of the Company; and (iv) failure to procure Stockholder Approval within 120 days after the closing. If an event of default occurs, Buyer may require the Company to redeem all or any portion of the Debenture (including all accrued and unpaid interest thereon), in cash. As of January 17, 2025, $1,870,646 of the principal amount of the October 3iNotes have been converted into 2,668,791 shares of our common stock and $416,950 of their principal amount remains outstanding. The October 3i Warrants The October 3i Warrants are exercisable for shares of common stock at a price of $1.50 per share (the “Exercise Price”), now adjusted to $1.00 per share. The October 3i Warrants may be