Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 18

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 18
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, including its customer base, service agreements and intellectual property. As consideration, the Company paid a total consideration of $5 million in the form of debt and equity. Pursuant to the acquisition, the total consideration was in the form of a mix of debt and equity, whereby: (i) BESS issued a $2 million non-interest bearing and non-convertible promissory note, payable over a period of three years to LiiON, (ii) and the Company issued 250,000 restricted shares of common stock of the Company, at an underlying share price of $12.00 per common stock, along with (iii) BESS entering into an exclusive consulting agreement for LiiON’s executives services. Secure Net Capital Transaction. On December 4, 2024, the Company entered into a Note Purchase Agreement (the “ December Purchase Agreement”), dated as of December 4, 2024, with Secure Net Capital LLC (“ Secure Net”), pursuant to which the Company issued a 20% Original Issue Discount promissory convertible note (the “ Secure Net Note”) with a maturity date in April 2025, in the principal sum of $1,250,000, along with warrants to purchase common stock of the Company (“ PA Warrant”) to Dominari Securities LLC (“ Dominari”), amounting to up to an aggregate of five percent (5%) of the number of shares of common stock issued upon conversion of the Secure Net Note, if the Secure Net Note are converted after the Maturity Date (as defined in the December Purchase Agreement); for serving as the Company’s exclusive placement agent in connection with December Purchase Agreement. Pursuant to the terms of the Secure Net Note, the Company agreed to pay to Secure Net the entire principal amount on the Maturity Date, failing which and certain events of default (as described in the Secure Net Note), the 20% Original Issue Discount shall increase to 30% Original Issue Discount. The Secure Net Note, issued pursuant to the December Purchase Agreement, is convertible at the option of the Holder at any time after the Maturity Date, including with registration rights, at a conversion price per share equal to ninety percent (90%) of the Company’s common stock’s VWAP (which is three (3) Trading Days immediately prior to such conversion date (or the nearest preceding date)) as of the date of such conversion. The current Secure Net Note is a senior direct debt obligation of the Company ranking pari passu with all other Notes, but subordinate and junior in right of