Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 137

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 137
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31,  
    As of December 31, 

    2025  
    2024 

    (in thousands) 
  
    Convertible debt, secured 
    $605  
    $2,626 
  
    Senior Secured debt and promissory notes 
     9,775  
     27,718 
  
    Total debt 
     10,380  
     30,344 
  
    Less current maturities 
     (10,380) 
     (28,715)
  
    Long term debt, net of current maturities 
    $-  
    $1,629 

    Current Maturities 
    $10,380  
    $28,715 
  
    Less current debt discount 
     (633) 
     (1,239)
  
    Less net loss on issuance of convertible note & warrant 
     -  
     520 
  
    Less movement in fair value 
     (154) 
     (632)
  
    Current Maturities net of debt discount 
    $9,593  
    $27,364 

    Long-term maturities 
    $-  
    $1,629 
  
    Less long-term debt discount 
     -  
     - 
  
    Long-term maturities net of debt discount 
    $-  
    $1,629 

The Company’s remaining
debt is recorded net of debt issuance costs of $9.6 million and $27.3 million as of March 31, 2025 and December 31, 2024, respectively.
Debt issuance costs are recorded as a debt discount and amortized to interest expense over the life of the debt, upon the close of the
related debt transaction, in the Consolidated Balance Sheet. Interest expense stemming from amortization of debt discounts for continuing
operations for the three months ended March 31, 2025 and March 31, 2024 was $1.4 million and $0.5 million, respectively.

There was no interest expense
stemming from amortization of debt discounts for discontinued operations for the three month periods ended March 31, 2025 and March 31,
2024 respectively.

Senior secured debt:

In May 2022, AEG MH02 entered
into a loan agreement with a group of private lenders of approximately $10.8 million with