Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 188

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 188
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 the Bridge Notes, the amounts held in escrow shall be returned to the selling stockholders and the principal balance of the Bridge Notes will be reduced by the amount returned plus the original issue discount associated with such amounts. No interest shall accrue on the Bridge Notes unless and until an Event of Default (as defined in the Bridge Notes) has occurred, upon which interest shall accrue at a rate of twenty percent (20.0%) per annum. The Bridge Notes mature upon the earlier of a) April 23, 2025, b) the date on which the sum of the net proceeds of capital raises subsequent to the Bridge Notes issuance date equals or exceeds 200% of the principal amounts due under the Bridge Notes, and (c) the closing of this offering. Bridge Notes contain certain Events of Default, including but not limited to (i) the Company’s failure to pay any amount of principal, interest, redemption price or other amounts due under the Notes or any other transaction document, (ii) any default under, redemption of, or acceleration prior to maturity of any indebtedness of the Company, as such term is defined in the transaction documents, (iii) bankruptcy of the Company or its subsidiaries, (iv) a final judgement or judgements for the payment of money in excess of $250,000, which is not discharged or stayed pending appeal within 60 days, and (v) any breach or failure to comply with any provision of the Note or any other transaction document. Upon the occurrence of any Event of Default and at any time thereafter, the selling stockholders shall have the right to exercise all of the remedies under the Bridge Notes. Bridge Notes also provide for redemption upon a change of control, as such term is defined under the Notes and mandatory redemption upon the receipt of net proceeds from any offering of equity or debt by the Company. Registration Rights Agreement In connection with the Bridge Note Purchase Agreement, the Company also entered into a registration rights agreement with the Bridge Purchasers, requiring the Company to register the resale by the selling stockholders, the shares of our common stock that were issued to them pursuant to the Bridge Note Purchase Agreement. We have agreed to file the registration statement related to this prospectus within 30 days of the issuance of the Bridge Notes, and to use its reasonable best efforts to cause such registration statement to be declared effective by the SEC within 45 days of the issuance of the Bridge Notes (or within 60 days of the Closing Date if the SEC notifies the Company that the SEC shall conduct a “full