Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 463

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 463
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, 2024 and a payment
plan of the rest of the outstanding balance was agreed to with payments to commence on July 15, 2024. The closing stock price of the Company
was $11.75 on the date of issuance.

On December 11, 2024, BESS
LLC, a wholly owned subsidiary of the Company, issued a non-interest-bearing promissory note with a principal amount of $2,000,000 as
partial consideration in the Asset Purchase Agreement for the acquisition of LiiON LLC’s battery storage business (see Footnote
5). The note was issued with a maturity date of December 31, 2027. Pursuant to the requirements of ASC 805, the Note was originally recorded
at its fair value of $1,537,000 (see Footnote 5) and included as partial consideration for the net assets acquired in the acquisition.

On December 30, 2024, one
of the Company’s subsidiaries, Alternus Europe Ltd, assumed a €1,000,000 ($1,041,720) promissory note from a subsidiary of
AEG, Alternus FundCo Ltd, with a 120% repayment premium plus 10% accrued interest maturing July 31, 2025. Additionally, the Company assumed
multiple promissory notes totaling $1,052,500 million from AEG maturing June 30, 2025.

On December 31, 2024, the
Company terminated their agreement with Meteora Capital LLC by issuing a $500,000 promissory note with a 10% annual interest rate maturing
January 31, 2026. This was offset to debt issuance costs (Interest Expense) on the Consolidated Statement of Operations and Comprehensive
Income/(Loss).

On December 21, 2022, Alternus
Clean Energy’s wholly owned Irish subsidiaries, AEG JD 01 LTD and AEG MH 03 LTD entered in a financing facility with Deutsche Bank
AG (“Lender”). This is a committed revolving debt financing of €80,000,000 to finance eligible project costs for the
acquisition, construction, and operation of installation/ready to build solar PV plants across Europe, including the capacity for the
financing to be upsized via a €420,000,000 uncommitted accordion facility to finance a pipeline of further projects across Europe
with a total combined capacity of 600 MWp (the “Warehouse Facility”). The