Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1772

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1772
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978 shares of Common Stock exercisable at $1.50 per share and the Company received gross proceeds of
$750,000, before fees and other expenses associated with the transaction, accounting for the 12% original issue discount.

On December 4, 2024, 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 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 Purchas 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, the Company and LiiON LLC mutually agreed to rescind the Asset Purchase Agreement. See Footnote 5 for further information.

On December 30, 2024, one of the Company’s