Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 94

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 94
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 March 21, 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
$2,350 on the date of issuance.

On April 19, 2024, the Company entered into a
Securities Purchase Agreement with an institutional investor pursuant to which the Company agreed to issue to the Investor a senior convertible
note in the principal amount of $2,160,000, issued with an eight percent (8.0%) original issue discount and a warrant to purchase up to
482 shares of the Company’s common stock, at an exercise price of $2,400 per share. As of June 30, 2025 the warrant was adjusted
to purchase up to 5,778 shares at an exercise price of $200 per share. The Company received gross proceeds of $2,000,000, before fees
and other expenses associated with the transaction. The Convertible Note matured on April 20, 2025, bearing interest at 7% per annum,
which was adjusted in April of 2025 so that the Maturity Date is December 31, 2025 and the interest rate is 12% per annum, and ranks senior
to the Company’s existing and future unsecured indebtedness. This note had a principal outstanding balance of $0.4 million as of
June 30, 2025 and December 31, 2024, respectively.

On October 1, 2024, the Company entered into a
Securities Purchase Agreement (the “Purchase Agreement”), by and between the Company and an institutional investor (the “Investor”),
pursuant to which the Company agreed to issue to the Investor a series of senior convertible notes up to an aggregate principal amount
of $2,500,000, issued with a twelve percent (12.0%) original issue discount (each a “Convertible Note” and together, the “Convertible
Notes”), and warrants (each a “Warrant” and together the “Warrants”) to purchase shares of the Company’s
common stock, $0.0001 par value per share (the “Common Stock”), equal to 50% of the face value of the Convertible Note divided
by the volume weighted average price, at an exercise price of $2.00 per share (the “Exercise Price”). Pursuant to the Purchase
Agreement, with the closing of the