Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 296

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 296
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 terms of the Company’s 2023 Equity Incentive Plan to reflect the Reverse Stock Split, in each case, in accordance with the terms thereof. The Reverse Stock Split reduced the number of shares of Common Stock issued and outstanding from the earlier 87,288,070to 3,491,523shares of Common Stock. The number of authorized shares of Common Stock will not be changed by the Reverse Stock Split. Common Share Issuances: On January 23, 2024, the Company entered into a six-month marketing services agreement. The Company issued 3,252shares at a market value of $ 25.25in exchange for marketing services provided. On May 8, 2024, this agreement was extended another six months with an additional 13,200shares issued. On February 20, 2024, the Company entered into a two-month marketing services agreement. The Company issued 4,000shares at a market value of $ 8.75for marketing services provided. This agreement has the potential of renewal for an additional three months upon mutual written consent. On May 8, 2024, the Company entered into a five-month digital marketing services agreement. The Company issued 4,000shares at a market value of $ 8.75per share for digital marketing advisory services provided. On August 1, 2024, the Company issued 8,262shares of unrestricted common stock valued at $ 6.65per share in exchange for the conversion of $ 54,958.33worth of the Convertible Note issued on April 19, 2024. On August 7, 2024, the “Company entered into a ‘Heads of Terms’ for Joint Business Venture (the “Agreement”) with Hover Energy LLC and its affiliates (“Hover”) to establish a joint venture (the “JV”) for the financing, development, management and operation of ‘Microgrid Projects’ utilizing Hover Wind-Powered Microgrid™ technology, as required. Pursuant to the said JV, the Company and Hover have agreed to have a 51% interest and a 49% interest in the JV, for which, the Company has issued 200,000shares of restricted common stock to Hover valued at $ 10.00per share and will issue and commit 140,000additional shares of restricted common stock, and Hover will contribute 100% of its projects and project pipeline. On September 3, 2024 we issued 10,194shares of unrestricted