Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 140

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 140
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 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 1,155,600 shares exercisable at $1.00 per share. Maxim Group LLC (“Maxim”) acted as
placement agent for the Convertible Note issuance and also received a warrant to purchase 9,644 shares of common stock with an exercise
price of $13.18 per share and which expires on July 31, 2027, for their role as placement agent. The Company also paid Maxim a cash placement
agency fee of $140,000 and reimbursed certain out of pocket fees up to $50,000. The Company received gross proceeds of $2,000,000, before
fees and other expenses associated with the transaction. The Convertible Note matures on April 20, 2025 (unless accelerated due to an
event of default or accelerated up to six installments by the Investor), bears interest at a rate of 7% per annum, which shall automatically
be increased to 12.0% per annum in the event of default, and ranks senior to the Company’s existing and future unsecured indebtedness.
The Convertible Note is convertible in whole or in part at the option of the Investor into shares of Common Stock (the “Conversion
Shares”) at the Conversion Price (as defined below) at any time following the date of issuance of the Convertible Note. The Convertible
Note is payable monthly on each Installment Date (as defined in the Convertible Note) commencing on the earlier of July 18, 2024 and the
effective date of the initial registration statement required to be filed pursuant to the Registration Rights Agreement (as defined below)
in an amount equal the sum of (A) the lesser of (x) $216,000 and (y) the outstanding principal amount of the Convertible Note, (B) interest
due and payable under the Convertible Note and (C) other amounts specified in the Convertible Note (such sum being the “Installment
Amount”); provided, however, if on any Installment Date, no failure to meet the Equity Conditions (as defined in the Convertible
Note) exits pursuant to the Convertible Note, the Company may pay all or a portion of the Installment Amount with shares of its common
stock. The portion of the Installment Amount paid with common stock