Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 477

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 477
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 Split uniformly affected all issued and outstanding shares of Common Stock
and did not alter any stockholder’s percentage ownership interest in the Company, except to the extent that the Reverse Stock Split
results in the fractional interests. No fractional shares will be or shall be issued in connection with the Reverse Stock Split. Stockholders
who otherwise would be entitled to receive fractional shares of Common Stock will receive an amount in cash (without interest or deduction)
equal to the fraction of one share to which such stockholder would otherwise be entitled multiplied by the share price, representing the
product of the average closing price of the Company’s common stock on the Nasdaq Capital Market for the five consecutive trading
days immediately preceding the effective date of the Reverse Stock Split and the inverse of the Reverse Stock Split ratio. Proportional
adjustments have also been made to the Company’s outstanding warrants, stock options, and convertible securities, as well as to
the reserves available pursuant to the terms of the Company’s 2023 Equity Incentive Plan to reflect the Reverse Stock Split, in
each case, in accordance with the terms thereof.

All share and per share amounts
in the accompanying consolidated financial statements and notes thereto have been retroactively adjusted to reflect the reverse stock
split for all periods presented.

Common Share Issuances

On January 23, 2024, the Company
entered into a six-month marketing services agreement. The Company issued 3,252 shares at a market value of $25.25 in exchange for marketing
services provided. On May 8, 2024, this agreement was extended another six months with an additional 13,200 shares issued at a market
value of $8.75 per share.

On February 20, 2024, the
Company entered into a two-month marketing services agreement. The Company issued 4,000 shares at a market value of $8.75 for marketing
services provided.

On May 8, 2024, the Company
entered into a five-month digital marketing services agreement. The Company issued 4,000 shares at a market value of $8.75 per share for
digital marketing advisory services provided.

On August 1, 2024, the Company
issued 8,262 shares of unrestricted common stock valued at $6.65 per share in exchange for the conversion of $54,958 worth of the Convertible
Note issued on April 19, 2024.

F-45

On August 7, 2024, the