Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 120

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 120
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21, 2024, ALCE and the Sponsor of Clean Earth (“ CLIN”) agreed to a settlement of a $1.2 million note assumed by ALCE as part of the Business Combination that was completed in December 2023. The note had a maturity date of whenever CLIN closes its Business Combination Agreement and accrued interest of 25%. ALCE issued 225,000 shares to the Sponsor in 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 $0.47 on the date of issuance. 80 Material Cash Requirements from Known Contractual Obligations The Company’s contractual obligations consist of operating leases generally related to the rent of office building space, as well as land upon which the Company’s solar parks are built. These leases include those that have been assumed in connection with the Company’s asset acquisitions. The Company’s leases are for varying terms and expire between 2027 and 2055. For the year ending December 31, 2023 and 2022, the Company incurred operating lease expenses from continuing operations of $212 thousand and $162 thousand, respectively. The following table summarizes the Company’s future minimum contractual operating lease payments as of December 31, 2023. Maturities of lease liabilities as of December 31, 2023 were as follows:

| Five-year lease schedule: |     | (in thousands) |        |   |
|:--------------------------|:----|:---------------|-------:|:--|
| 2024                      |     | $              |    231 |   |
| 2025                      |     |                |    237 |   |
| 2026                      |     |                |    242 |   |
| 2027                      |     |                |    248 |   |
| 2028                      |     |                |    216 |   |
| Thereafter                |     |                |  2,064 |   |
| Total lease payments      |     |                |  3,238 |   |
| Less imputed interest     |     |                | (1,811 | ) |
| Total                     |     | $              |  1,427 |   |

The Company had no finance leases as of December 31, 2023. In April 2022, the Company entered a new lease for additional office space