Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 348

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 348
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 to volatility, which could have a material adverse impact on investors and employee retention.

The price of our stock
has experienced substantial price volatility and may continue to do so in the future. From January 1, 2024 to June 6, 2025, our stock
price fluctuated between a low of $0.02 per share and a high of $31.75 per share. Additionally, the energy and technology industries,
and the stock market as a whole have, from time to time, experienced extreme stock price and volume fluctuations that have affected stock
prices in ways that may have been unrelated to the performance of the companies in these sectors. We believe the price of our stock should
reflect expectations of future growth and profitability. If we fail to meet expectations related to future growth, profitability, or other
market expectations, the price of our stock may decline significantly, which could have a material adverse impact on investor confidence
and employee retention.

An active trading
market for our common stock may not be sustained.

Our common stock is listed
on OTCQB under the symbol “ALCE” and trades on that market. We cannot assure you that an active trading market for its common
stock will be sustained. Accordingly, we cannot assure you of the liquidity of any trading market, your ability to sell your shares of
common stock when desired or the prices that you may obtain for your shares.

As a result of being
listed on the OTC Market and no longer listed on a national exchange, we face significant material adverse consequences, including but
not limited to:

    ●
    a limited availability of market quotations for our securities;

    ●
    reduced liquidity for our securities;

    ●
    a limited amount of news and analyst coverage for the company; and

    ●
    a decreased ability to issue additional securities or obtain additional financing in the future.

37

We may issue additional
shares of common stock or other equity securities without your approval, which would dilute your ownership interests and may depress the
market price of our common stock.

We have warrants outstanding
to purchase up to 37,000,149 shares of our common stock. We will also have the ability to initially issue up to 2,240,000 shares of our
common stock under the 2023 Plan (as defined below).

We may issue additional
shares of common stock or other equity securities of equal or senior rank in the future in connection with, among other things, future
acquisitions or repayment of outstanding indebted