Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 21

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 21
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 to Solis Trustee Special Vehicle Limited, the Solis Bondholders’ ownership vehicle, for one Euro (€1.00) in accordance with the terms of the Solis Bonds, as amended. As a result of the sale, we removed approximately $100 million in debt and payables related to Solis activities and will likely improve shareholders equity by approximately $45 million. Solis accounted for 98% of group revenues for the six months ended June 30, 2024. Alternus will record the sale as discontinued activities as it has no business activities in Romania. October 3i Convertible Note Issuance. On October 1, 2024, we entered into a securities purchase agreement (the “ October Purchase Agreement”) with 3i, L.P. pursuant to which we agreed to issue one or more senior convertible notes in the aggregate principal amount of up to $2,500,000, each with a twelve percent (12.0%) original issue discount and an interest rate of seven percent (7.0%) per annum (the “ October Convertible Notes”), and related warrants (the “ October 3i Warrants”) to purchase shares of common stock equal to 50% of the maximum number of shares issuable upon conversion of the related October Convertible Note (the “ October 3i Note Transaction”). Pursuant to the October Purchase Agreement, at the closing of the initial tranche of the October Convertible Notes and October 3i Warrants, the Company issued an October Convertible Note in the principal amount of $795,455 and an October 3i Warrant initially exercisable for up to 212,784 shares of Common Stock at an initial exercise price of $2.00 per share, 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. These October 3i Warrants were subsequently adjusted so that as of December 2, 2024, they are exercisable to purchase up to 425,571 shares at $1.00 per share, pursuant to the Adjustment Notice dated December 2, 2024. On October 21, 2024, pursuant to the October Purchase Agreement, the closing of the second tranche of the October Convertible Notes and October 3i Warrants occurred, whereby the Company issued an October Convertible Note in the principal amount of $607,955 and an October 3i Warrant initially exercisable for