Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2454

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 7A
Chunk 2454
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14.
    Convertible Debt and Non-convertible Promissory Notes

The following table reflects
the total debt balances of the Company as December 31, 2024 and 2023:

    Year Ended December 31, 

    2024  
    2023 

    (in thousands) 
  
    Convertible debt, secured 
    $2,626  
    $- 
  
    Senior Secured debt and promissory notes 
     27,718  
     32,312 
  
    Total debt 
     30,344  
     32,312 
  
    Less current maturities 
     (28,715) 
     (32,312)
  
    Long term debt, net of current maturities 
    $1,629  
    $- 

    Current Maturities 
    $28,715  
    $32,312 
  
    Less current debt discount 
     (1,239) 
     (725)
  
    Less net loss on issuance of convertible note & warrant 
     520  
     - 
  
    Less movement in fair value 
     (632) 
     - 
  
    Current Maturities net of debt discount 
    $27,364  
    $31,587 

    Long-term maturities 
    $1,629  
    $- 
  
    Less long-term debt discount 
     -  
     - 
  
    Long-term maturities net of debt discount 
    $1,629  
    $- 

The Company incurred debt
issuance costs of $1.2 million and $0.7 million during the year ended December 31, 2024 and 2023, respectively. Debt issuance costs are
recorded as a debt discount and are amortized to interest expense over the life of the debt, upon the close of the related debt transaction,
in the Consolidated Balance Sheet.

Interest expense stemming
from amortization of debt discounts for continuing operations for the twelve-months ended December 31, 2024 and 2023 was $0.9 million
and $2.4 million, respectively.

Interest expense stemming
from amortization of debt discounts for discontinued operations for the twelve-months ended December 31, 2024 and 2023 was $0.2 million
and $2.5 million, respectively