Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 307

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 307
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. As a result of the Transaction,
the Company recorded a gain on the sale of $11.9 million and removed approximately $18.3 million in debt and payables related to MH02’s
activities (See Footnote 18).

On January 19, 2024, the Company sold its operating
parks in Poland with a carrying value of $55.2 million for $59.4 resulting in a $4.2 million gain partially offset by a $0.9 million loss
on sale of assets in the Netherlands. $1.6M of the cash received was held back by the seller per the SPA and recorded as a receivable
on the Consolidated Balance Sheet. On February 22, 2024, the Company sold its operating park in the Netherlands with a carrying value
of $8.0 million for $7.1 million resulting in a $0.9 million loss. The costs incurred to complete the transaction totaled $1.2 million
and are reported together with the disposal of the assets according to ASC 360-10-35-38.

Interest Expense, Other Income, and Other Expense

    Three Months Ended June 30, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Interest expense 
    $(1,250) 
    $(809) 
    $(441) 
     (55)%
  
    Fair value movement on convertible note 
     (882) 
     (182) 
     (700) 
     (100)%
  
    Warrant issuance cost 
     (753) 
     -  
     (753) 
     (100)%
  
    Fair value movement on warrant 
     162  
     -  
     162  
     100%
  
    Loss on issuance of debt 
     -  
     (948) 
     948  
     100%
  
    Other expense 
     (232) 
     -  
     (278) 
     (100)%
  
    Other income 
     (46) 
     3  
     (3) 
     (100)%
  
    Total for continuing operations 
    $(3,001) 
    $(1,936) 
    $1,065  
     55%

    Discontinued Operations: