Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 38

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 remaining $240,000 to close upon request of the
Company and at the Investor’s discretion, having a 16.67% original issue discount, an interest rate of 12% per annum and a maturity
date of December 31, 2025 (the “Notes”). Pursuant to the Purchase Agreement, with the closing of the private placement of
the Note (the “Private Placement”), the Company received gross proceeds of $265,000, before fees and other expenses associated
with the transaction. On May 30, 2025, a second partial tranche in the amount of $180,000 of the Notes closed, and the Company received
gross proceeds of $150,000. The Company has recorded $498,000 due at at June 30, 2025, being cash received of $415,000 and debt issuance
costs capitalized of $83,000. The debt issuance costs are amortized over the life of the loan, of which $17,844 are expensed in the income
statement for the period ended June 30, 2025.

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. The Company has recorded $240,000 due at
June 30, 2025, being cash received of $200,000 and debt issuance costs capitalized of $40,000. The debt issuance costs are amortized over
the life of the loan, of which $4,615 are expensed in the income statement for the period ended June 30, 2025.

19

12. Other Payables

This represents $5.2
million due to Sunrise Development LLC a former supplier of project devlopement to certain subsidiaries then owned by the Company. Given
the arbitration award granted to Sunrise, the Company has reclassed this payable from trade payables to other payables. (See