Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1278

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 3
Chunk 1278
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, the Company was served a complaint
filed in the Superior Court of the State of Delaware by SPAC Sponsor Capital Access (“SCAF”) , claiming that approximately
$1.5 million is due and owed to SCAF pursuant to a settlement agreement by and among the parties, plus costs, expenses, legal fees, interest
and damages, if proven. The Company has accrued a liability for this loss contingency in the amount of approximately $1.5 million, which
represents the contractual amount allegedly owed. It is reasonably possible that the potential loss may exceed our accrued liability due
to costs, expenses, legal fees, interest and damages that are also alleged by SCAF as owed, but at the time of filing this report, we
are unable to determine an estimate of that possible additional loss in excess of the amount accrued. The parties are currently in further
settlement discussions.

On May 8, 2025, the Company, Alternus Energy Group
PLC (AEG) and one of AEG’s subsidiaries, Alternus Energy Americas Inc. (AEA), was served a Demand for Arbitration through JAMS in
Washington DC by Orrick, Herrington and Sutcliffe LLP (“Orrick”), claiming that approximately $1 million is due and owed to
Orrick pursuant to an engagement agreement entered into with AEA, plus interest. The Company intends to vigorously defend itself in this
matter and has filed a motion to dismiss itself from the arbitration as the Company was not a party to this engagement agreement nor is
AEA a subsidiary of the Company.

Item 4. Mine Safety Disclosures

Not applicable.

42

PART II

Item 5. Market for Registrant’s Common
Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Market Information

Our common stock is trading on the OTC Market
under the symbol “ALCE.”

Holders

As of June 6, 2025, there were 73 stockholders
of record of our common stock and 1 stockholder of record of our Series A Super Voting Preferred Stock. Because many of our shares of
common stock are held by brokers and other institutions on behalf of stockholders, this number is not representative of the total number
of beneficial owners of our stock.

Dividends

The Company has not paid any cash dividends on
shares of our common stock to date. The payment of cash dividends in the future will depend upon our revenues and earnings, if any, capital
requirements