Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 624

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 624
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On April 19, 2024, the Company entered into a
Securities Purchase Agreement with an institutional investor pursuant to which the Company agreed to issue to the Investor a senior convertible
note in the principal amount of $2,160,000, issued with an eight percent (8.0%) original issue discount and a warrant to purchase up to
96,444 shares of the Company’s common stock, at an exercise price of $5.76 per share. The Company received gross proceeds of $2,000,000,
before fees and other expenses associated with the transaction. The Convertible Note matures on April 20, 2025, bears interest at 7% per
annum, and ranks senior to the Company’s existing and future unsecured indebtedness. Refer to Footnote 5 for details on the conversions
completed during the year ended December 31, 2024.

On October 1, 2024, the Company entered into a
Securities Purchase Agreement (the “Purchase Agreement”), by and between the Company and an institutional investor (the “Investor”),
pursuant to which the Company agreed to issue to the Investor a series of senior convertible notes up to an aggregate principal amount
of $2,500,000, issued with a twelve percent (12.0%) original issue discount (each a “Convertible Note” and together, the “Convertible
Notes”), and warrants (each a “Warrant” and together the “Warrants”) to purchase shares of the Company’s
common stock, $0.0001 par value per share (the “Common Stock”), equal to 50% of the face value of the Convertible Note divided
by the volume weighted average price, at an exercise price of $2.00 per share (the “Exercise Price”). Pursuant to the Purchase
Agreement, with the closing of the initial tranche of the Convertible Note and Warrant, the Company issued a Warrant to purchase up to
212,784 shares of Common Stock and the Company received gross proceeds of $700,000, before fees and other expenses associated with the
transaction, accounting for the 12% original issue discount. This warrant was adjusted so that as of November 12, 2024 it is adjusted
to purchase up to 283,714 shares exercisable at $1.50 per share. This warrant was again adjusted on December 5, 2024 to purchase up to
425,571 shares exercisable at $1