Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 147

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 147
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 Co Ltd, with a 120% repayment premium plus 10% accrued interest maturing July 31, 2025. Additionally, the Company assumed
multiple promissory notes totaling $1,052,500 million from AEG maturing June 30, 2025.

On December 31, 2024, the Company terminated their
agreement with Meteora Capital LLC by issuing a $500,000 promissory note with a 10% annual interest rate maturing January 31, 2026. This
was offset to debt issuance costs (Interest Expense) on the Consolidated Statement of Operations and Comprehensive Income/(Loss).

On January 21, 2025, the Company
entered into a securities purchase agreement (the “Purchase Agreement”) with certain investors (the “Purchasers”)
pursuant to which the Company sold, in a private placement (the “Offering”), unsecured 20% original issue discount promissory
notes with an aggregate principal amount of $2,812,500 (the “Notes”). The Purchase Agreement also provides for the issuance
of an aggregate of 1,526,058 shares of common stock of the Company, par value $0.0001 per share (the “Shares”) to the Purchasers.
The transaction closed on January 23, 2025 (the “Closing Date”).

The
aggregate gross proceeds to the Company were expected to be $2,250,000, before deducting placement agent fees and expenses. $580,000 of
such proceeds were released on the Closing Date and the remaining amount were held in escrow, to be released to the Company upon the later
of: i) filing the registration statement referenced below and ii) the date on which the Company receives a written communication from
the Nasdaq Stock Market (“Nasdaq”) that Nasdaq has granted the Company an extension to meet the continued listing requirements
of the Nasdaq. Because the Company received a delisting determination from the Nasdaq on February 10, 2025, the Escrow Agent disbursed
the funds back to the Purchasers as provided below against cancellation of a proportional portion of each Purchaser’s Note (inclusive
of original issue discount).

The
Notes were issued with an original issue discount of 20%. No interest shall accrue on the Notes unless and until an Event of Default (as
defined in the Notes) has occurred, upon which interest shall accrue at a rate of twenty percent (20