Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 37

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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    $36 
  
    Total assets sold 
    $36 

    Liabilities: 

    Accounts payable 
    $196 
  
    Short secured debt 
     2,773 
  
    Operating leases, current liabilities 
     29 
  
    Other current liabilities 
     203 
  
    Operating leases, non-current liabilities 
     423 
  
    Total liabilities sold 
    $3,624 

    Net (gain)/loss on sale of net assets 
    $(3,588)

16.
Assets Held for Sale – (MH 02 & Subs)

During the first quarter of
2025, the Company engaged multiple parties to market its subsidiary, AEG MH 02 Limited (“MH02”) and all its subsidiaries to
potential buyers. As this sale is not considered an exit strategy of the Italian market, the assets were not classified as discontinued
operations in accordance with ASC 205-20. As of March 31, 2025, MH02 and its Italian subsidiaries were classified as disposal groups held
for sale. The Company subsequently sold MH02 and its subsidiaries on May 7, 2025. The balances and results of MH02 and its Italian subsidiary
disposal groups are presented below:

    As of March 31, 
  
    MH 02 and Italian Subsidiaries 
    2025 

    (in thousands) 

    Assets: 

    Cash and cash equivalents 
    $35 
  
    Other current assets 
     362 
  
    Property, plant, equipment, net 
     3,648 
  
    Total assets held for sale 
    $4,045 

    Liabilities: 

    Accounts payable 
    $194 
  
    Short term convertible & non-convertible notes 
     16,630 
  
    Other current liabilities 
     449 
  
    Total liabilities held for sale 
    $17,273 

    Net assets/(liabilities) held for sale 
    $(13,228)

23

17. Shareholders’ Equity

Common Stock

As of December 31, 2024, the
Company had a total of 300,000,000 shares of common stock authorized with 5,037,826 shares issued and outstanding. As of March 31, 2025,
the Company had a total of 300,000,000 shares of common stock authorized with 10,148,354 shares issued and outstanding.

Reverse Stock