Company: ALCE
Filing Date: 2025-12-08
Form Type: DEF 14C
Source: 0001213900-25-118968
Chunk: 5

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-12-08
Form: DEF 14C
Chunk 5
---
 higher for
low-priced stocks.

. The Board believes that the potential increase in stock price may reduce the risk of market
manipulation of our common stock, which we believe is enhanced when our stock trades below $1.00 per share. By reducing market manipulation
risk, we may also thereby potentially decrease the volatility of our stock price.

. A Reverse Stock Split is expected to increase the number of authorized, but
unissued and unreserved, shares of our common stock. These additional shares would provide flexibility to the Company for raising capital;
repurchasing debt; providing equity incentives to employees, officers, directors, consultants and advisors (including pursuant to our
equity compensation plan); expanding our business through the acquisition of other businesses and for other purposes. However, at present,
we do not have any specific plans, arrangements, understandings or commitments for the additional shares that would become available.

Accordingly, for these and other reasons, the
Board believes that a Reverse Stock Split is in the best interests of the Company and our stockholders. A copy of the draft of the Certificate
of Amendment providing for the Reverse Stock Split is attached hereto as .

<div align='center'>1</div>

Criteria to be Used for Determining Whether to Implement a Reverse Stock Split

This proposal gives the Board the discretion to
select a Reverse Stock Split ratio from within a range between and including 1:2 and 1:2,500 on a date selected by him based on his then-current
assessment of the factors below, and in order to maximize Company and stockholder interests. In determining whether to implement the Reverse
Stock Split, and which ratio to implement, if any, the Board may consider, among other factors:

| ● | the historical trading price and trading volume of our common 
 stock;                                                        |

| ● | the then-prevailing trading price and trading volume of our common                                          
 stock and the expected impact of the Reverse Stock Split on the trading market in the short- and long-term; |

| ● | the initial and continued listing requirements for our common 
 stock on applicable exchanges, if then applicable;            |

| ● | the number of shares of common stock outstanding; |

| ● | which Reverse Stock Split ratio would result in the least administrative 
 cost to us; and                                                          |

| ● | prevailing industry, market and economic conditions. |

Certain Risks and Potential Disadvantages Associated with a Reverse Stock Split

We cannot assure stockholders that the proposed
Reverse Stock Split will sufficiently increase our stock