Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 315

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 315
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urities 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 Company issued warrants for the purchase of 106 shares of common stock with an exercise price of $440 per share to Maxim for their
role as placement agent, which is exercisable at any time on or after April 1, 2025 and will expire on December 19, 2027.

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The Convertible Note was extended and matures
on December 31, 2025 (unless accelerated due to an event of default, or accelerated up to six installments by the Investor), bears interest
at an adjusted rate of twelve percent (12%) per annum, which shall automatically be increased to eighteen percent (18.0%) per annum in
the event of default and, other than the First Convertible Note, ranks senior to the Company’s existing and future unsecured indebtedness.
The Convertible Note is convertible in whole or in part at the option of the Investor into shares of Common Stock (the “Conversion
Shares”) at the Conversion Price (as defined below) at