Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 171

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 171
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 is the three
(3) Trading Days immediately prior to such Conversion Date (or the nearest preceding date)) as of the date of such conversion (the “Conversion
Date”). The current 2025 Note is a senior direct debt obligation of the Company ranking pari passu with all other Notes, but subordinate
and junior in right of payment to the Senior Convertible Notes originally issued to 3i, LP., and other senior or pari passu Indebtedness
(as defined in the Purchase Agreement) of the Company.

On June 6, 2025, the Company
entered into a Note 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 promissory note in the aggregate total principal
amount of $240,000, having a 16.67% original issue discount, an interest rate of 12% per annum and a maturity date of December 31, 2025
(the “Note”). Pursuant to the Purchase Agreement, with the closing of the private placement of the Note, the Company received
gross proceeds of $200,000, before fees and other expenses associated with the transaction.

32

ITEM 2 - MANAGEMENT’S DISCUSSION AND
ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our
financial condition and results of our operations should be read in conjunction with the condensed consolidated financial statements and
related notes included elsewhere in this report and in our Annual Report on Form 10-K filed with the Securities and Exchange Commission
on June 27, 2025. In addition to historically consolidated financial information, this discussion contains forward-looking statements
that involve risks and uncertainties. Our actual results could differ materially from those discussed below. Factors that could cause
or contribute to these differences include, but are not limited to, those identified below, and those discussed in “Item 1A. Risk
Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024, in “Item 1A. Risk Factors” in
Part II of this Quarterly Report on Form 10-Q and in any subsequent filing we make with the SEC.

Overview

We are a renewable energy company committed to
advancing sustainable solutions. With a focus on utility-scale projects, such as utility solar parks, microgrids and battery storage,
we aim to deliver comprehensive, clean energy across Europe and