Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 155

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 155
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, MH02 and its Italian subsidiaries were classified as disposal groups held
for sale. The Company subsequently sold MH02 and its subsidiaries on May 7, 2025. The balances and results of MH02 and its Italian subsidiary
disposal groups are presented below:

    As of March 31, 
  
    MH 02 and Italian Subsidiaries 
    2025 

    (in thousands) 

    Assets: 

    Cash and cash equivalents 
    $35 
  
    Other current assets 
     362 
  
    Property, plant, equipment, net 
     3,648 
  
    Total assets held for sale 
    $4,045 

    Liabilities: 

    Accounts payable 
    $194 
  
    Short term convertible & non-convertible notes 
     16,630 
  
    Other current liabilities 
     449 
  
    Total liabilities held for sale 
    $17,273 

    Net assets/(liabilities) held for sale 
    $(13,228)

23

17. Shareholders’ Equity

Common Stock

As of December 31, 2024, the
Company had a total of 300,000,000 shares of common stock authorized with 5,037,826 shares issued and outstanding. As of March 31, 2025,
the Company had a total of 300,000,000 shares of common stock authorized with 10,148,354 shares issued and outstanding.

Reverse Stock Split

On October 11, 2024, the Company
effected a one-for-25 (1:25) reverse stock split of all issued and outstanding shares of the Company’s common stock, par value $0.0001
per share (the “Common Stock”) effective as of 12:01 a.m. Eastern Time on October 11, 2024 (the “Reverse Stock Split”),
vide a Certificate of Amendment to the Third Amended and Restated Certificate of Incorporation of Alternus Clean Energy, Inc. (the “Certificate
of Amendment”) filed with the Secretary of State of Delaware on October 3, 2024, and deemed effective on October 11, 2024 at 12:01
a.m. Eastern Time. The Reverse Stock Split temporarily brought the Company into compliance with the $1.00 minimum bid price requirement
for continued listing on the NASDAQ Capital Market, as required by Nasdaq Listing Rule 5550(a)(