Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 97

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 97
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0.9 million loss. The costs incurred to
complete the transaction totaled $0.4 million and are reported together with the disposal of the assets according to ASC 360-10-35-38.

On October 3, 2024, the Company sold its operating
parks in Romania as part of the sale of Solis Bond Company DAC and its subsidiaries in Romania to the Solis Bondholders for €1 in
accordance with the terms of the Solis Bonds, as amended. The net of all assets and liabilities resulted in a $51.8 million gain to be
reported on the Consolidated Statement of Operations and Comprehensive Loss in accordance with ASC 205-20. The costs incurred to complete
the transaction totaled $0.7 million and are reported together with the disposal of the assets according to ASC 360-10-35-38. The sale
of these entities and exit of this market represented a strategic shift for the Company resulting in the gain being recorded under discontinued
operations.

Interest Expense, Other Income, and Other Expense

    Year Ended December 31,

    2024

    2023

    Change 
($)

    Change
(%)

    (in thousands)

    Interest expense
     
    $
    (8,774)

    $
    (5,634)

    $
    (3,140)

    56
    %
  
    Valuation of FPA asset

    -

    (16,642)

    16,642

    (100)
    %
  
    Fair value movement of FPA asset

    (483)

    -

    (483)

    100
    %
  
    Fair value movement of convertible note

    67

    -

    67

    100
    %
  
    Fair value movement of warrant

    565

    -

    565

    100
    %
  
    Net loss on issuance of debt

    (520)

    -

    (520)

    100
    %
  
    Gain on extinguishment of debt

    179

    -

    179

    100
    %
  
    Other expense

    (506)

    (29)

    (477)

    1,645
    %
  
    Other income

    1,571

    -

    1,571

    100
    %
  
    Total for continuing operations
     
    $
    (7,901)

    $
    (22,