Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 165

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 165
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. Exercise Limitation.A holder will not have the right to exercise any portion of the Pre-Funded Warrants or Warrants if the holder (together with its affiliates) would beneficially own in excess of 4.99% (or, upon election by a holder prior to the issuance of any warrants, 9.99%) of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership is determined in accordance with the terms of the Warrants and Pre-Funded Warrants. However, any holder may increase or decrease such percentage to any other percentage not in excess of 9.99%, upon at least 61 days’ prior notice from the holder to us with respect to any increase in such percentage. Exercise Price. The exercise price of each Pre-Funded Warrant included in each Pre-Funded Unit is $[●] per share. The Series A Warrants will be exercisable upon Warrant Stockholder Approval, have an exercise price of $[●] per share of common stock (equal to 150% of the public offering price per Unit, subject to certain anti-dilution and share combination event protections, as further set forth below) and have a term of [●] years from the date of Warrant Stockholder Approval. The Series B Warrants will be exercisable commencing upon Warrant Stockholder Approval, will have an exercise price of $[●] per share of common stock (equal to 150% of the public offering price per Unit, subject to certain share combination event protections, as further set forth below) per share of common stock and will have a term of [●] years from the date of Warrant Stockholder Approval. Beginning on the 11th trading day after the Warrant Stockholder Approval Date (the “ Reset Date”), the exercise price of the Warrants will reset to a price equal to the greater of (i) the Floor Price, as defined in the Warrants, in effect on the Reset Date, and (ii) the lowest volume weighted average price (“ VWAP”) during the period commencing on the first trading day immediately following the Stockholder Approval Date and ending on the close of trading on the 10th trading day thereafter. In addition, following a reverse stock split, the exercise price of the Warrants will be adjusted to equal the lowest single-day VWAP during the period from the trading day immediately following, until the fifth trading day following the reverse stock split with a proportionate adjustment to the number of