Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 51

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 (without
interest or deduction) equal to the fraction of one share to which such stockholder would otherwise be entitled multiplied by the share
price, representing the product of the average closing price of the Company’s common stock on the OTCQB Market for the five consecutive
trading days immediately preceding the effective date of the Sept 2025 Reverse Stock Split and the inverse of the Sept 2025 Reverse Stock
Split ratio. Proportional adjustments have also been made to the Company’s outstanding warrants, stock options, and convertible
securities, as well as to the reserves available pursuant to the terms of the Company’s 2023 Equity Incentive Plan to reflect the
Sept 2025 Reverse Stock Split, in each case, in accordance with the terms thereof.

All share and per share amounts
in the accompanying consolidated financial statements and notes thereto have been retroactively adjusted to reflect both the 2024 Reverse
Stock Split and the Sept 2025 Reverse Stock Split for all periods presented.

Common Stock Issuances

On April 14, 2025 the
Company issued a total of 484,100 shares of restricted common stock valued at $3,872,800, including 55,000 shares to Alternus Energy Group
PLC, a related party, 15,000 shares to each of our 4 current independent directors (Ms. Bjornov, Mr. Wikborg, Mr. Parker and Mr. Ratner)
and one past director, Mr. Chaudhri, 75,000 shares each to Mr. Browne, our CEO, and Mr. Thomas, our executive director, 25,000 shares
to Ms. Durant, our CLO, 12,500 shares to an employee for past services rendered, 28,750 shares to Hover Energy LLC for certain assets
acquired and 137,850 shares to four accredited third party debt holders.

On May 1, 2025 the Company
issued 5,000 shares of restricted common stock to Assure Power, LLC for services pursuant to a consulting agreement, valued at $43,000.

On May 2, 2025, the Company
issued 20,000 shares of common stock to SPC as a settlement fee, valued at $172,000.

On May 20, 2025 the Company
issued 40,000 shares of restricted common stock to a related party, Alternus Energy Group PLC, for services rendered, valued at $224,000.

On