Company: ALCE
Filing Date: 2025-09-24
Form Type: 8-K
Source: 0001213900-25-091133
Chunk: 0

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-09-24
Form: 8-K
Item: Item 1.01
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Item 1.01. Entry into Material Definitive Agreement.

The information provided in Item 2.03 is hereby
incorporated by reference.

Item 2.03. Creation of a Direct Financial Obligation
or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On September 19, 2025, Alternus Clean Energy,
Inc. (the “ Company”) entered into two Note Purchase Agreements (the “ Purchase Agreement”) with two accredited
investors (each an “ Investor” and together, the “ Investors”), pursuant to which the Company issued a 20% Original
Issue Discount promissory convertible note to each Investor (together, the “2025 Notes”) with a maturity date of December
2025, each in the principal sum of $312,500. Pursuant to the terms of the 2025 Notes, the Company agreed to pay to the Investors the entire
principal amount on the Maturity Date, failing which and certain events of default (as described in the 2025 Notes), the 20% Original
Issue Discount shall increase 5% each month thereafter until the Notes are fully repaid. The Purchase Agreements contain customary representations
and warranties by the Company, and closed on the same date thereof respectively. The Purchase Agreements resulted in combined net proceeds
of $500,000 to the Company, which the Company intends to use for working capital purposes.

The 2025 Notes, each issued pursuant to a Purchase
Agreement, are convertible at the option of the Holder at any time after the Maturity Date, including with registration rights, at a conversion
price per share equal to ninety percent (90%) of the Company’s common stock’s VWAP (which is calculated based on the three
(3) Trading Days immediately prior to such Conversion Date (or the nearest preceding date)) as of the date of such conversion (the “ Conversion
Date”). The 2025 Notes are a senior direct debt obligation of the Company ranking pari passu with all other notes, but subordinate
and junior in right of payment to the Senior Convertible Notes originally issued to 3i, LP., and other senior or pari passu Indebtedness
(as defined in the Purchase Agreement) of the Company.

The description of the Purchase Agreements and
the 2025 Notes does not purport to be complete and is qualified in its entirety by reference to the Form of 2025 Note and the Form of
Purchase Agreement, copies