Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 26

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 26
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 the Company and 3i, LP entered into an adjustment notice, pursuant to which the Company: (i) revised the conversion price for the April 2024 Convertible Notes, and October Convertible Notes to $1.00 per share, and (ii) adjusted the April 3i Warrant to purchase up to an aggregate 1,157,322 shares at an exercise price of $1.00 per share, and adjusted October 3i Warrants to 1,337,505 warrant shares, at an exercise price of $1.00 per share, pursuant to the Adjustment Notice, and (iii) completion of the fourth tranche to the October Note in the principal amount of $244,317 and an October 3i Warrant to purchase up to 130,710 shares of Common Stock at an exercise price of $1.00 per share within two business days of the initial filing of the current registration statement with the SEC. Bridge Note Financing.On January 21, 2025, we entered into a securities purchase agreement (the “Bridge Note Purchase Agreement”) with the selling stockholders described in the Selling Stockholder Prospectus pursuant to which the Company sold, in a private placement, unsecured 20% original issue discount promissory notes with an aggregate principal amount of $2,812,500 (the “Bridge Notes”). The Bridge Note Purchase Agreement also provides for the issuance of an aggregate of 1,526,058 shares of our common stock the selling stockholders. The Bridge Notes were issued on January 23, 2025. The aggregate gross proceeds to us are expected to be $2,250,000, before deducting placement agent fees and expenses, $580,000 of such proceeds were released to us on the issuance date of the Bride Notes and the remaining amount shall be held in escrow, which will be released to us upon the date on which the Company receives a written communication from the Nasdaq that it has granted the Company an extension to meet the continued listing requirements of the Nasdaq. If the second disbursement has not occurred within 60 days of the issuance of the Bridge Notes, the amounts held in escrow shall be returned to the selling stockholders and the principal balance of the Bridge Notes will be reduced by the amount returned plus the original issue discount associated with such amounts. No interest shall accrue on the Bridge Notes unless and until an Event of Default (as defined in the Bridge Notes) has occurred, upon which interest shall accrue at a rate of