Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 145

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 145
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 to 455,967 shares at an exercise price of $1.00 per share. In conjunction with the transaction, the
Company issued warrants for the purchase of 22,799 shares of common stock with an exercise price of $2.20 per share to Maxim for their
role as placement agent, which is exercisable at any time on or after May 12, 2025 and will expire on December 19, 2027.

On December 5, 2024, pursuant
to the Purchase Agreement, the closing of the fourth and final tranche of the Convertible Note and Warrant occurred, whereby the Company
issued a Warrant to purchase 130,710 shares of Common Stock exercisable at $1.00 per shares and the Company received gross proceeds of
$214,999 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 6,536 shares of common stock with an exercise price of $2.20 per
share to Maxim for their role as placement agent, which is exercisable at any time on or after June 5, 2025 and will expire on December
19, 2027.

As of December 31, 2024, the
outstanding principal was $2.2 million with fair value of $1.3 million at that date. The Company also recorded a $0.5 million gain on
movement in fair value in the year ended December 31, 2024. During the three months ended March 31, 2025, $2.0 million principal of this
note was converted into 2,936,747 shares, leaving $0.2 million of the note principal outstanding. The Company also recorded a $0.4 million
loss on movement in fair value in the three months ended March 31, 2025.

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,