Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1856

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1856
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 2024, the Company
entered into a Purchase Agreement with an institutional investor pursuant to which we sold, and the investor purchased, a warrant to purchase
up to an aggregate of 96,444 shares of common stock. The warrant is exercisable for shares of common stock at a price of $12 per share
(the “Exercise Price”). The warrant is exercisable immediately and expires on October 20, 2029. The Exercise Price is subject
to full ratchet anti-dilution protection, subject to certain price limitations required by Nasdaq rules and regulations and certain exceptions.
This warrant was adjusted on November 12, 2024 to purchase up to 455,966 shares exercisable at $1.50 per share. This warrant was again
adjusted on December 5, 2024 to purchase up to 1,155,600 shares exercisable at $1.00 per share. In conjunction with the transaction, the
Company also issued warrants to Maxim for the purchase of 9,644 shares of common stock with an exercise price of $14.25 per share for
their role as placement agent, which is exercisable at any time on or after October 19, 2024 and will expire on July 31, 2027.

F-46

On October 1, 2024, the Company
entered into a Purchase Agreement with an institutional investor pursuant to which we sold, and the investor purchased, a warrant to purchase
up to 212,784 shares of Common Stock and the Company received gross proceeds of $795,455, 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 $1.00 per share. In conjunction with the transaction, the Company issued warrants for the purchase of 21,278
shares of common stock with an exercise price of $2.20 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.

On October 21, 2024, pursuant
to the Purchase Agreement, the closing of the second tranche of the Convert