Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 236

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 236
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440 per share
to Maxim for their role as placement agent, which is exercisable at any time on or after May 12, 2025 and will expire on December 19,
2027.

On December 5, 2024, pursuant to the Purchase
Agreement, the closing of the fourth and final tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant,
which as of June 30, 2025 was adjusted to purchase up to 654 shares of Common Stock exercisable at $200 per shares and the Company received
gross proceeds of $214,999 before fees and other expenses associated with the transaction, accounting for the 12% original issue discount.
In conjunction with the transaction, the Company issued warrants for the purchase of 33 shares of common stock with an exercise price
of $440 per share to Maxim for their role as placement agent, which is exercisable at any time on or after June 5, 2025 and will expire
on December 19, 2027.

54

On April 28, 2025, the Company entered into a
Letter Agreement with the Investor, which modifies certain terms and conditions of the Senior Convertible Note issued April 19, 2024 and
the Senior Convertible Note issued October 1, 2024, by the Company to the Investor, collectively (the “2024 Notes”). The interest
rate on the 2024 Notes is and will continue at a rate of 12% per annum. The conversion price of the 2024 Notes which remain outstanding
shall be adjusted to the lesser of i) $6.00 and ii) 55% of the Market Price. Market Price shall mean the average of the three lowest traded
prices of at least 100 shares during the twenty (20) Trading Days immediately prior to the Conversion Date. Unless mutually agreed upon,
the Conversion Price shall not be less than $0.0001. The maturity date of the 2024 Notes shall be extended to December 31, 2025. Pursuant
to the Letter Agreement, the Company agreed to issue the Investor a warrant (the “Warrant”) to purchase up to 170,000 shares
of the Company’s common stock, $0.0001 par value per share (the “Common Stock”), at an exercise price of $6.00 per share
(the “Exercise Price”). The Warrant is exercisable immediately and will expire on the date that is five