Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 233

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 233
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 shares of the Company’s common stock, at an exercise price of $2,400 per share. As of June 30, 2025 the warrant was adjusted
to purchase up to 5,778 shares at an exercise price of $200 per share. The Company received gross proceeds of $2,000,000, before fees
and other expenses associated with the transaction. The Convertible Note matured on April 20, 2025, bearing interest at 7% per annum,
which was adjusted in April of 2025 so that the Maturity Date is December 31, 2025 and the interest rate is 12% per annum, and ranks senior
to the Company’s existing and future unsecured indebtedness. This note had a principal outstanding balance of $0.4 million as of
June 30, 2025 and December 31, 2024, respectively.

On October 1, 2024, the Company entered into a
Securities 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 a series of senior convertible notes up to an aggregate principal amount
of $2,500,000, issued with a twelve percent (12.0%) original issue discount (each a “Convertible Note” and together, the “Convertible
Notes”), and warrants (each a “Warrant” and together the “Warrants”) to purchase shares of the Company’s
common stock, $0.0001 par value per share (the “Common Stock”), equal to 50% of the face value of the Convertible Note divided
by the volume weighted average price, at an exercise price of $2.00 per share (the “Exercise Price”). Pursuant to the Purchase
Agreement, with the closing of the initial tranche of the Convertible Note and Warrant, the Company issued a Warrant to purchase up to
1,063 shares of Common Stock and the Company received gross proceeds of $700,000, before fees and other expenses associated with the transaction,
accounting for the 12% original issue discount. This warrant was adjusted on November 12, 2024 and on December 5, 2024 so that as of June
30, 2025 the warrant was asdjusted to purchase up to 2,128 shares exercisable at $200 per share.  In conjunction with the transaction,
the