Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 170

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 170
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 2025 and will expire on December 19, 2027.

On November 12, 2024, pursuant
to the Purchase Agreement, the closing of the third tranche of the Convertible Note and Warrant occurred, whereby the Company issued a
Warrant to purchase 1,520 shares of Common Stock exercisable at $300 per share and the Company received gross proceeds of $750,000, before
fees and other expenses associated with the transaction, accounting for the 12% original issue discount. This warrant was adjusted on
December 5, 2024 so that as of June 30, 2025, the warrant was adjusted to purchase up to 2,280 shares at an exercise price of $200 per
share. In conjunction with the transaction, the Company issued warrants for the purchase of 114 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 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.

As of December 31, 2024, the
outstanding principal was $2.2 million with fair value of $0.3 million at that date. The Company also recorded a $0.7 million loss on
movement in fair value in the year ended December 31, 2024.

During the three months ended
March 31, 2025, $2.0 million principal of this note was converted into 14,684 shares, leaving $0.1 million of the note principal outstanding.
The Company also recorded a $0