Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 272

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 272
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 basis for shares of the Company’s Common Stock. |

| ● | Each share of CLIN common stock subject to possible redemption that was not redeemed prior to the closing of the Business Combination, which totaled 5,086 shares, was exchanged for, on a one-for-one basis for shares of the Company’s Common Stock. |

| ● | In connection with the Business Combination, an investor that provided the Company funding through a promissory note, was due to receive warrants to purchase 12,000 shares of Common Stock at an exercise price of $0.25 per share and warrants to purchase 4,000 shares of Common Stock at an exercise price of $287.50 per share pursuant to the Secured Promissory Note Agreement dated October 3, 2023. Upon closing of the Business Combination, the investor received those warrants. |

| ● | In connection with the Business Combination, CLIN entered into a Forward Purchase Agreement (the “FPA”) with certain accredited investors (the “FPA Investors”) that gave the FPA Investors the right, but not an obligation, to purchase up to 111,862 shares of CLIN’s common stock. Of the 111,862 shares, the FPA Investors purchased 52,013 shares of Common Stock and the Company issued an aggregate of 59,849 shares of the Company’s common stock pursuant to the FPA. |

| ● | The proceeds received by the Company from the Business Combination, net of the FPA and transaction costs, totaled $5.1 million. |

The following table presents the total Common Stock outstanding immediately after the closing of the Business Combination:

|                                                                                                                             |     | Number of 
 Shares    |           |
| Exchange of CLIN common stock subject to possible                                                                           
 redemption that was not redeemed for Alternus Clean Energy Inc. common stock                                                |     |           |     5,086 |
| Exchange of public share rights held by CLIN shareholders for                                                               
 Alternus Clean Energy Inc. common stock                                                                                     |     |           |    92,000 |
| Issuance of Alternus Clean Energy, Inc. common stock to promissory                                                          
 note holders                                                                                                                |     |           |    16,000 |
| Exchange of CLIN Class A common stock held                                                                                  
 by CLIN Sponsor for Alternus Clean Energy Inc. common stock                                                                 |     |           |   342,267 |
| Subtotal - Business Combination, net of redemptions                                                                         |     |           |   455