Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 100

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 100
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 Purchaser’s Note (inclusive
of original issue discount).

55

The
Notes were issued with an original issue discount of 20%. No interest shall accrue on the Notes unless and until an Event of Default (as
defined in the Notes) has occurred, upon which interest shall accrue at a rate of twenty percent (20.0%) per annum. The Notes matured
on April 23, 2025, have not been repaid as of June 30, 2025 and are therefore in default. Upon the occurrence of any Event of Default
and at any time thereafter, the Purchasers shall have the right to exercise all of the remedies under the Notes.

Maxim
served as the placement agent in the Offering, pursuant to the terms of a Placement Agency Agreement and received 8% of the gross proceeds
of the Offering, and placement agent warrants to purchase up to 381 shares of common stock at $81.18
per share (the “Placement Agent Warrants”) and reimbursement of the legal fees of its counsel of up to $50,000. The Placement
Agent Warrants will be exercisable on the six (6) month anniversary of issuance and will expire on the five (5) year anniversary of issuance.

On April 28, 2025, the Company
entered into a Note Purchase Agreement (the “Purchase Agreement”), by and between the Company and an institutional investor
(the “Investor”), pursuant to which the Company agreed to issue to the Investor promissory notes in the aggregate total principal
amount of up to $558,000, with the first tranche of $318,000 closing immediately and the remaining $240,000 to close upon request of the
Company and at the Investor’s discretion, having a 16.67% original issue discount, an interest rate of 12% per annum and a maturity
date of December 31, 2025 (the “Notes”). Pursuant to the Purchase Agreement, with the closing of the private placement of
the Note (the “Private Placement”), the Company received gross proceeds of $265,000, before fees and other expenses associated
with the transaction. On May 30, 2025, a second partial tranche in the amount of $180,000 of the Notes closed, and the Company received
gross proceeds of $150,000.

On May 29, 2025, the Company
entered into a Note Purchase Agreement (the “Purchase Agreement”), dated as of May