Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 269

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 2
Chunk 269
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isable at $2.00 per share and the Company received gross proceeds of $535,000, before fees and other
expenses associated with the transaction, accounting for the 12% original issue discount. In conjunction with the transaction, the Company
issued warrants for the purchase of 16,263 shares of common stock with an exercise price of $2.20 per share for their role as placement
agent, which is exercisable at any time on or after April 21, 2024 and will expire on the third anniversary of the effective date of the
registration statement registering the underlying warrant shares. This warrant was adjusted on November 12, 2024 to purchase up to 216,838
shares at an exercise price of $1.50 per share.

On November 12, 2024, pursuant to the Purchase
Agreement, the closing of the third tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant to purchase
303,978 shares of Common Stock exercisable at $1.50 per share and the Company received gross proceeds of $750,000, before fees and other
expenses associated with the transaction, accounting for the 12% original issue discount.

On December 4, 2024, the Company entered into
a Note Purchase Agreement (the “Purchase Agreement”) with Secure Net Capital LLC (“Secure Net”), pursuant to which
the Company issued a 20% Original Issue Discount promissory convertible note (the “2024 Note”) with a maturity date in April
2025, in the principal sum of $1,250,000. Pursuant to the terms of the 2024 Note, the Company agreed to pay to Secure Net the entire principal
amount on the Maturity Date, failing which and certain events of default (as described in the 2024 Note), the 20% Original Issue Discount
shall increase to 30% Original Issue Discount. The Purchase Agreement resulted in net proceeds of $1,000,000 to the Company. The 2024
Note, issued pursuant to the Purchase Agreement, is convertible at the option of the Holder at any time after the Maturity Date, including
with registration rights, at a conversion price per share equal to ninety percent (90%) of the Company’s common stock’s VWAP
(which is the three (3) Trading Days immediately prior to such Conversion Date (or the nearest preceding date)) as of the date of such
conversion (the “Conversion Date”). On December