Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 282

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 282
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 term debt, net of current maturities        |     | $              |       - |   |     | $           |       - |   |
| Current Maturities                               |     | $              |  33,534 |   |     | $           |  32,312 |   |
| Less unamortized debt discount                   |     |                |    (322 | ) |     |             |    (725 | ) |
| Current Maturities net of debt discount          |     | $              |  33,212 |   |     | $           |  31,587 |   |

The Company incurred debt issuance costs of $ 0.3million during the nine-month period ended September 30, 2024. Debt issuance costs are recorded as a debt discount and are amortized to interest expense over the life of the debt, upon the close of the related debt transaction, in the Consolidated Balance Sheet. Interest expense stemming from amortization of debt discounts for continuing operations for the nine months ended September 30, 2024 was $ 1.8million and for the year ended December 31, 2023 was $ 4.9million.

There was no interest expense stemming from amortization of debt discounts for discontinued operations for the nine months ended September 30, 2024 and 2023, respectively.

All outstanding debt for the company is considered short-term based on their respective maturity dates and are to be repaid within the year 2024 and early 2025.

Senior secured debt:

In May 2022, AEG MH02 entered into a loan agreement with a group of private lenders of approximately $ 10.8million with an initial stated interest rate of 8% and a maturity date of May 31, 2023. In February 2023, the loan agreement was amended stating a new interest rate of 16% retroactive to the date of the first draw in June 2022. In May 2023, the loan was extended, and the interest rate was revised to 18% from June 1, 2023. In July 2023, the loan agreement was further extended to October 31, 2023. In November 2023, the loan agreement was further extended to May 31, 2024. As of the date of this report, this loan is in default; however, management is in active discussions with the lender to renegotiate the terms. Due to these