Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 46

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 46
---
 basic and diluted 
    $-  
    $(1,603)
  
    Net loss per share attributable to common stockholders, basic and diluted 
    $-  
    $(120.00)
  
    Weighted-average common stock outstanding, basic 
     -  
     13,228 
  
    Weighted-average common stock outstanding, diluted 
     -  
     13,228 

23

On October 3, 2024, the Company
completed the sale of Solis Bond Company DAC, a company formed under the laws of Ireland and an indirect wholly owned subsidiary of the
Company, and its subsidiaries in Romania to Solis Trustee Special Vehicle Limited, the Solis Bondholders’ ownership vehicle, for
€1 in accordance with the terms of the Solis Bonds, as amended. As a result of the sale, the Company eliminated approximately $112
million in debt and payables related to Solis activities and improved shareholders’ equity by approximately $51 million. Solis accounted
for 98% of group revenues for the year ended December 31, 2024.

The sale of these entities
and exit of this market represented a strategic shift for the Company that has a major effect on the Company’s operations and financial
results. Results of operations, financial position, and cash flows for these subsidiaries are reported as discontinued operations, in
accordance with ASC 205-20, for all periods presented.

The notes to the financial
statements have been adjusted to reflect this retroactive presentation.

    Six Months Ended  June 30, 
  
    Solis and Subsidiaries in Romania 
    2024 

    (in thousands) 

    Revenues 
    $5,856 

    Operating Expenses 

    Cost of revenues 
     (2,304)
  
    Selling, general, and administrative 
     (1,126)
  
    Depreciation, amortization, and accretion 
     (991)
  
    Total operating expenses 
     (4,421)

    Income from discontinued operations 
     130 

    Other income/(expense): 

    Loss on sale of assets 
     (2,511)
  
    Income/(Loss) before provision for income taxes 
    $(946)
  
    Net income/(loss) from discontinued operations 
    $(946)

16. Sale of Spanish Subsidiaries

On March 25, 2025, one of