Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 170

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1
Chunk 170
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 Purchase Agreement, with the closing of the initial tranche of the Convertible Note and Warrant, the Company
issued a Warrant to purchase up to 212,784 shares of Common Stock and the Company received gross proceeds of $700,000, before fees and
other expenses associated with the transaction, accounting for the 12% original issue discount. This warrant was adjusted so that as of
November 12, 2024 it is adjusted to purchase up to 283,714 shares exercisable at $1.50 per share. This warrant was again adjusted on December
5, 2024 to purchase up to 425,571 shares exercisable at $1.00 per share. In conjunction with the transaction, the Company issued warrants
for the purchase of 21,278 shares of common stock with an exercise price of $2.20 per share to Maxim for their role as placement agent,
which is exercisable at any time on or after April 1, 2025 and will expire on December 19, 2027.

The Convertible Note matures
on October 1, 2025 (unless accelerated due to an event of default, or accelerated up to six installments by the Investor), bears interest
at a rate of seven percent (7%) per annum, which shall automatically be increased to eighteen percent (18.0%) per annum in the event of
default and, other than the First Convertible Note, ranks senior to the Company’s existing and future unsecured indebtedness. The
Convertible Note is convertible in whole or in part at the option of the Investor into shares of Common Stock (the “Conversion Shares”)
at the Conversion Price (as defined below) at any time following the date of issuance of the Convertible Note. The Convertible Note is
payable monthly on each Installment Date (as defined in the Convertible Note) commencing on the earlier of December 1, 2024 and the effective
date of the initial registration statement required to be filed pursuant to the Registration Rights Agreement (as defined below) in an
amount equal the sum of (A) the lesser of (x) $79,545 and (y) the outstanding principal amount of the Convertible Note, (B) interest due
and payable under the Convertible Note and (C) other amounts specified in the Convertible Note (such sum being the “Installment
Amount”); provided, however, if on any Installment Date, no failure to meet the Equity Conditions