Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 394

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 394
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 been satisfied (or waived in writing by the Holder).

On October 21, 2024, pursuant to the Purchase
Agreement, the closing of the second tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant to purchase
162,628 shares of Common Stock exercisable at $2.00 per share and the Company received gross proceeds of $535,000, 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 16,263 shares of common stock with an exercise price of $2.20 per share for their role as placement
agent, which is exercisable at any time on or after April 21, 2024 and will expire on the third anniversary of the effective date of the
registration statement registering the underlying warrant shares. This warrant was adjusted on November 12, 2024 to purchase up to 216,838
shares at an exercise price of $1.50 per share.

63

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 303,978 shares of Common Stock exercisable at $1.50 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.

On December 4, 2024, the Company entered
into a Note Purchase Agreement (the “Purchase Agreement”) with Secure Net Capital LLC (“Secure Net”),
pursuant to which the Company issued a 20% Original Issue Discount promissory convertible note (the “2024 Note”) with a
maturity date in April 2025, in the principal sum of $1,250,000. Pursuant to the terms of the 2024 Note, the Company agreed to pay
to Secure Net the entire principal amount on the Maturity Date, failing which and certain events of default (as described in the
2024 Note), the 20% Original Issue Discount shall increase to 30% Original Issue Discount. The Purchase Agreement resulted in net
proceeds of $1,000,000 to the Company. The 2024 Note, issued pursuant to the Purchase Agreement, is convertible at the option of the
Holder at any time after the