Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 234

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 234
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 Company issued warrants for the purchase of 106 shares of common stock with an exercise price of $440 per share to Maxim for their
role as placement agent, which is exercisable at any time on or after April 1, 2025 and will expire on December 19, 2027.

53

The Convertible Note was extended and matures
on December 31, 2025 (unless accelerated due to an event of default, or accelerated up to six installments by the Investor), bears interest
at an adjusted rate of twelve percent (12%) per annum, which shall automatically be increased to eighteen percent (18.0%) per annum in
the event of default and, other than the First Convertible Note, ranks senior to the Company’s existing and future unsecured indebtedness.
The Convertible Note is convertible in whole or in part at the option of the Investor into shares of Common Stock (the “Conversion
Shares”) at the Conversion Price (as defined below) at any time following the date of issuance of the Convertible Note. The Convertible
Note is payable monthly on each Installment Date (as defined in the Convertible Note) commencing on the earlier of December 1, 2024 and
the effective date of the initial registration statement required to be filed pursuant to the Registration Rights Agreement (as defined
below) in an amount equal the sum of (A) the lesser of (x) $79,545 and (y) the outstanding principal amount of the Convertible Note, (B)
interest due and payable under the Convertible Note and (C) other amounts specified in the Convertible Note (such sum being the “Installment
Amount”); provided, however, if on any Installment Date, no failure to meet the Equity Conditions (as defined in the Convertible
Note) exits pursuant to the Convertible Note, the Company may pay all or a portion of the Installment Amount with shares of its common
stock. The portion of the Installment Amount paid with common stock shall be based on the Installment Conversion Price. “Installment
Conversion Price” means the lower of (i) the Conversion Price (defined below) and (ii) the greater of (x) 92% of the average of
the two (2) lowest daily VWAPs (as defined in the Convertible Note) in the ten (10) trading days immediately prior to each conversion
date and (y) $150. “Equity Conditions Failure” means that on