Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 215

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 215
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7, 2025, the Company
entered into a Share Purchase Agreement with its subsidiary, Alternus Europe Limited (the “Seller”), OBN Real Estate Limited
(the “Majority Buyer”) and BVP Green Bond 2018 Limited (the “Minority Buyer”) (together the “Buyers”)
for the sale of the entire issued share capital of AEG MH 02 Limited (“MH02”), including all of MH02’s subsidiaries:
AED Italia-01 S.r.l; AED Italia-02 S.r.l; AED Italia-03 S.r.l; AED Italia-04 S.r.l; AED Italia-05 S.r.l; AED Italia-06 S.r.l; AED Italia-07
S.r.l; AED Italia-08 S.r.l; PC-Italia-01 S.r.l; PC-Italia-03 S.r.l; PC-Italia-04 S.r.l; Risorse Solari I S.r.l; and Risorse Solari III
S.r.l (the “Transaction”), for a total consideration of (i) the assumption of approximately $19,000,000 in total debt ($17,000,000
owed to the Majority Buyer and the remaining $2,000,000 owed to the Minority Buyer), (ii) the forbearance by the Majority Buyer on the
right to claim up to $17,000,000 against the Company’s parent guarantee until MH02’s solar projects reach ready to build
status, and (iii) the right of the Company to purchase MH02’s solar photovoltaic projects at fair market value, subject to a minimum
price of €150,000 per megawatt, as each project reaches ready to build status. The Majority Buyer acquired 75.5% of MH02 and the
Minority Buyer acquired the remaining 24.5% of MH02’s share capital.

F-59

As part of the Transaction
and debt forbearance, the Company issued 10,660,000 shares of restricted common stock to the Minority Buyer. (See unregistered sale of
securities above).

As a result of the Transaction,
the Company has removed approximately $22.6 million in debt and costs related to MH 02’s activities, which will improve shareholders
equity by approximately $14.4 million.

On May 8, 2025, the Company,
Alternus Energy Group PLC (AEG) and one of AEG’s subsidiaries