Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 198

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 198
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 the Company entered into
a Note Purchase Agreement (the “Purchase Agreement”) with Secure Net Capital LLC (“Secure Net”), pursuant to which
the Company issued a 20% Original Issue Discount promissory convertible note (the “2024 Note”) with a maturity date in April
2025, in the principal sum of $1,250,000. Pursuant to the terms of the 2024 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 2024 Note), the 20% Original Issue Discount
shall increase to 30% Original Issue Discount. The Purchase Agreement resulted in net proceeds of $1,000,000 to the Company. The 2024
Note, issued pursuant to the 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 the three (3) Trading Days immediately prior to such Conversion Date (or the nearest preceding date)) as of the date of such
conversion (the “Conversion Date”). On December 5, 2024, pursuant to the Purchase Agreement, the closing of the fourth and
final tranche of the Convertible Note and Warrant occurred, whereby the Company issued a Warrant to purchase 130,710 shares of Common
Stock exercisable at $1.00 per shares and the Company received gross proceeds of $244,317 before fees and other expenses associated with
the transaction, accounting for the 12% original issue discount.

On December 11, 2024, the Company entered into
an agreement with LiiON LLC as part of the business acquisition for a $2,000,000 note with a maturity date of December 31, 2027. Subsequent
to December 31, 2024, on April 28, 2025, the Company and LiiON LLC mutually agreed to rescind the Asset Purchase Agreement. See Footnote
5 for further information on.

On December 30, 2024, the Company assumed a $1,041,720
(€1,000,000) promissory note from AEG with a 10% interest maturing July 31, 2025. Additionally, the Company assumed multiple promissory
notes totaling $1,025,000