Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1400

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 3
Chunk 1400
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 valued at $1 per share in exchange for the conversion of $50,000 worth of the
Convertible Note issued on April 19, 2024.

On December 20, 2024, the
Company issued 45,429 shares of unrestricted common stock valued at $0.75 per share in exchange for the conversion of $34,146 worth of
the Convertible Note issued on October 1, 2024.

On December 23, 2024, the
Company issued 223,017 shares of unrestricted common stock valued at $0.82 per share as collateral to Sunrise Development as repayment
of debt.

Preferred Stock

As of December 31, 2024 and
2023, the Company also had a total of 1,000,000 shares of preferred stock authorized. There were no preferred shares issued or outstanding
as of December 31, 2024 and 2023. The board of directors of the Company has the authority to establish one or more series of preferred
stock, fix the voting rights, designations, powers, preferences and any other rights, if any, of each such series and any qualifications,
limitations and restrictions thereof.

Warrants

As of December 31, 2023, warrants
to purchase up to 493,800 shares of common stock were issued and outstanding. These warrants were related to financing activities. As
inducement to extend the maturity of an existing note with warrants, on February 5, 2024, the Company issued 3,600 additional penny warrants
with a five-year term to the noteholder with a five-year term.

On April 19, 2024, the Company
entered into a Purchase Agreement with an institutional investor pursuant to which we sold, and the investor purchased, a warrant to purchase
up to an aggregate of 96,444 shares of common stock. The warrant is exercisable for shares of common stock at a price of $12 per share
(the “Exercise Price”). The warrant is exercisable immediately and expires on October 20, 2029. The Exercise Price is subject
to full ratchet anti-dilution protection, subject to certain price limitations required by Nasdaq rules and regulations and certain exceptions.
This warrant was adjusted on November 12, 2024 to purchase up to 455,966 shares exercisable at $1.50 per share. This warrant was again
adjusted on December 5, 2024 to purchase up to 1,155,