Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 191

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 191
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44

Liquidity and Capital Resources

Capital Resources

A key element to the Company’s financing
strategy is to raise much of its debt in the form of project specific non-recourse borrowings at its subsidiaries with investment grade
metrics. Going forward, the Company intends to primarily finance acquisitions or growth capital expenditures using long-term non-recourse
debt that fully amortizes within the asset’s contracted life, as well as retained cash flows from operations and issuance of equity
securities through public markets.

The following table summarizes certain financial
measures that are not calculated and presented in accordance with U.S. GAAP, along with the most directly comparable U.S. GAAP measure,
for each period presented below. In addition to its results determined in accordance with U.S. GAAP, the Company believes the following non-U.S.
GAAP financial measures are useful in evaluating its operating performance. The Company uses the following non-U.S. GAAP financial
information, collectively, to evaluate its ongoing operations and for internal planning and forecasting purposes.

The following non-U.S. GAAP table summarizes the
total capitalization and debt as of March 31, 2025 and December 31, 2024:

    As of
 March 31,  
    As of
 December 31, 

    2025  
    2024 

    (in thousands) 
  
    Convertible debt, secured 
    $605  
    $2,626 
  
    Senior Secured debt and promissory notes 
     9,775  
     27,718 
  
    Total debt 
     10,380  
     30,344 
  
    Less current maturities 
     (10,380) 
     (28,715)
  
    Long term debt, net of current maturities 
    $-  
    $1,629 

    Current Maturities 
    $10,380  
    $28,715 
  
    Less current debt discount 
     (633) 
     (1,239)
  
    Less net loss on issuance of convertible note & warrant 
     -  
     520 
  
    Less movement in fair value 
     (154) 
     (632)
  
    Current Maturities net of debt discount 
    $9.593  
    $27,364 

    Long-term maturities