Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1597

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 4
Chunk 1597
---
 $28,715  
    $32,312 
  
    Less current debt discount 
     (1,239) 
     (725)
  
    Less net loss on issuance of convertible note & warrant 
     520  
     - 
  
    Less movement in fair value 
     (632) 
     - 
  
    Current Maturities net of debt discount 
    $27,364  
    $31,587 

    Long-term maturities 
    $1,629  
    $- 
  
    Less long-term debt discount 
     -  
     - 
  
    Long-term maturities net of debt discount 
    $1,629  
    $- 

The Company incurred debt
issuance costs of $1.2 million and $0.7 million during the year ended December 31, 2024 and 2023, respectively. Debt issuance costs are
recorded as a debt discount and are amortized to interest expense over the life of the debt, upon the close of the related debt transaction,
in the Consolidated Balance Sheet.

Interest expense stemming
from amortization of debt discounts for continuing operations for the twelve-months ended December 31, 2024 and 2023 was $0.9 million
and $2.4 million, respectively.

Interest expense stemming
from amortization of debt discounts for discontinued operations for the twelve-months ended December 31, 2024 and 2023 was $0.2 million
and $2.5 million, respectively.

Senior secured debt:

In May 2022, AEG MH02 entered
into a loan agreement with a group of private lenders of approximately $10.8 million with an initial stated interest rate of 8% and a
maturity date of May 31, 2023. In February 2023, the loan agreement was amended stating a new interest rate of 16% retroactive to the
date of the first draw in June 2022. In May 2023, the loan was extended, and the interest rate was revised to 18% from June 1, 2023. In
July 2023, the loan agreement was further extended to October 31, 2023. In November 2023, the loan agreement further extended to May 31,
2024. On December 31, 2024, the loan agreement was further extended to September 30