Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 726

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 726
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 Note into 113,485 shares of unrestricted common stock valued at $0.75 per share.

On February 10, 2025, the
Company received a determination letter (the “Delisting Notification”) from the Nasdaq Hearings Advisor stating that the
Nasdaq Hearings Panel determined to delist the Company’s common stock, par value $0.0001 per share (the “Common Stock”)
from the Nasdaq Capital Market, and Nasdaq accordingly suspended trading in the Company’s Common Stock, effective at the opening
of trading on February 12, 2025, because the Company has not demonstrated compliance with the market value of listed securities requirement
in Listing Rule 5550(b)(2), nor does it meet any of the alternative requirements under Nasdaq Listing Rule 5550(b) and has failed to
demonstrate that additional time to regain compliance is appropriate. The Company was additionally in violation of the bid price requirement
of Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”), as disclosed recently on January 31, 2025, which was taken into
consideration by the Panel in its Delisting Notification.

A Form 25-NSE was
filed with the Securities and Exchange Commission (“SEC”), which removed the Company’s securities from listing and
registration on Nasdaq. The Company’s Common Stock is currently quoted on the OTCQB trading market. However, there can be
no assurance that the Company’s Common Stock will continue to trade on any over-the-counter trading market.

On February 11, 2025, 3i
converted $150,000 of the October Convertible Note into 200,000 shares of unrestricted common stock valued at $0.075 per share.

On February 14, 2025, the
the Board of the Company declared the formation of and approved the issuance of an aggregate of 1 share of Series A Super Voting Preferred
Stock, par value $0.0001 per share (“Series A”). On February 18, 2025, the Company filed a certificate of designation (the
“Certificate of Designation”) with the Secretary of State of the State of Delaware therein establishing the Series A Super
Voting Preferred Stock and describing the rights, obligations and privileges of the Series A Super Voting Preferred Stock. Concurrently,
the Company issued the 1 share of Series A on the same date, in book-entry form. Each share of Series A