Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 2098

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 6
Chunk 2098
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with the Parties’ mutual decision to rescind the Agreement. The agreement to rescind the transaction was finalized on April 29,
2025, resulting in the unwinding of all consideration transferred and legal ownership.

The Company has evaluated
the rescission in accordance with ASC 855, Subsequent Events, and determined it to be a non-recognized subsequent event, as the rescission
did not change the condition of “control” that existed as of the acquisition date or the reporting period end. As such, no
adjustments have been made to the financial statements for the period ended December 31, 2024.

On May 1, 2025 the Company
issued 1,000,000 shares of restricted common stock to Assure Power, LLC for services pursuant to a consulting agreement, valued at $43,000.

On May 2, 2025, CFGI LP and
the Company entered into a settlement agreement for a contractual amount owed for services rendered in the amount of $358,000, whereby
the Company shall pay to CFGI approximately $10,000 per month commencing June 2, 2025 for a period of three years.

On May 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), (