Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1187

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 2
Chunk 1187
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-entry form. Each share of Series A has a par value of $0.0001 per
share. The Series A is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of
the Company. The Series A has no stated maturity and is not subject to any sinking fund. The holders of Series A shall not be entitled
to receive any distributions in the event of any liquidation, dissolution or winding up of the Company.

On March 21, 2025 the Company
filed an Amended and Restated Certificate of Designation of its Series A, such that 10,000 shares are designated as Series A and issued
to Mr. Vincent Browne and each share of the Series A is entitled to have the right to vote in an amount equal to 10,000 votes per share,
voting with the common stock on all matters as a single class.

On March 21, 2025, Vincent
Browne, our Chief Executive Officer, Interim Chief Financial Officer and the shareholder with majority voting rights, representing 91%
of the shares entitled to vote, approved 1) an amendment to our Certificate of Incorporation to effect a reverse stock split of our common
stock at a ratio ranging from 1-for-2 and 1-for-500, as determined by our Board of Directors in its sole discretion, and 2) an amendment
to the Company’s 2023 Equity Incentive Plan relating to an increase in the number of shares of Common Stock that shall be available
for the grant of awards under the Plan from 2,240,000 shares of Common Stock, so that the maximum aggregate number of shares of
Common Stock that may be issued under the Plan is increased each fiscal year (the “Adjustment Date”) by an amount equal to
the lesser of (i) that number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date,
less (a) the number of shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number
of shares of Common Stock that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or
(ii) such lesser number of shares of Common Stock as may be determined by the Board.

On March 24, 2025, the Company
incorporated a new wholly owned subsidiary, EverOn