Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1852

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1852
---
2023 a buyer was identified, and
the sale of the assets was finalized on December 28, 2023. The Company received a cash consideration of $17.5 million for all operating
assets. In accordance with ASC 360, the Company removed the disposal group and recognized a loss of $5.5 million upon sale on December
28, 2023, of which $0.6 million were costs associated with the sale. The balances and results of the Italian disposal group are presented
below as of December 28, 2023:

    As of December 28, 
  
    Italy 
    2023 

    (in thousands) 
  
    Assets: 

    Cash & cash equivalents 
    $100 
  
    Other current assets 
     338 
  
    Other non-current assets 
     3,819 
  
    Total assets held for sale 
    $4,257 

    Liabilities: 

    Accounts payable 
    $21 
  
    Other current liabilities 
     578 
  
    Total liabilities to be disposed of 
    $599 

    Net assets held for sale 
    $3,658 

    Year Ended  December 31, 
  
    Italy 
    2023 

    (in thousands) 

    Revenues 
    $3,360 

    Operating Expenses 

    Cost of revenues 
     (1,204)
  
    Selling, general, and administrative 
     (69)
  
    Depreciation, amortization, and accretion 
     (1,638)
  
    Loss on disposal of asset 
     (5,501 
  
    Total operating expenses 
     (8,412)

    Income/(Loss) from discontinued operations 
     (5,052)

    Other income/(expense): 

    Other expense 
     (15)
  
    Other income 
     - 
  
    Total other income/(expenses) 
    $(15)
  
    Income/(Loss) before provision for income taxes 
    $(5,067)
  
    Net income/(loss) from discontinued operations 
    $(5,067)

F-44

    22.
    Shareholders’ Equity

Common Stock

As of December 31, 2023, the
Company had a total of 150,000,000 shares of common stock authorized with 2,876,215 shares issued and outstanding. As of December