Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 247

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 247
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 one of AEG’s subsidiaries, Alternus Energy Americas Inc. (AEA), was served a Demand for Arbitration
through JAMS in Washington DC by Orrick, Herrington and Sutcliffe LLP (“Orrick”), claiming that approximately $1 million is
due and owed to Orrick pursuant to an engagement agreement entered into with AEA, plus interest. The Company intends to vigorously defend
itself in this matter and has filed a motion to dismiss itself from the arbitration as the Company was not a party to this engagement
agreement nor is AEA a subsidiary of the Company.

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Item 1A. Risk Factors

In addition to the other information set forth
in this report, you should carefully consider the factors discussed in Part I, “Item 1A. Risk Factors” in our 2024
Annual Report on Form 10-K, which could materially affect our business, financial condition or future results. There have been no material
changes during fiscal 2025 to the risk factors that were included in Form 10-K.

Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds

Sales of Unregistered Securities

On January 2, 2025, a convertible promissory note
holder converted $1,588,693 of the October Convertible Note into 10,591 shares of unrestricted common stock valued at $150 per share.

On January 8, 2025, a convertible promissory note
holder converted $202,500 of the October Convertible Note into 1,350 shares of unrestricted common stock valued at $150 per share.

On January 23, 2025, the Company issued an aggregate
of 7,630 shares of common stock to six accredited investors as part of a debt financing, valued at $563,268.

On February 6, 2025, 3i converted $85,113 of the
October Convertible Note into 567 shares of unrestricted common stock valued at $150 per share.

On February 11, 2025, 3i converted $150,000 of
the October Convertible Note into 1,000 shares of unrestricted common stock valued at $150 per share.

On February 18, 2025, the Company issued 1 share
of Series A Super Voting Preferred Stock to Mr. Vincent Browne valued at $6.00 per share.

On March 21, 2025, the Company issued 10,000
shares of Series A Super