Company: ALCE
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-007054
Chunk: 297

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 297
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 common stock valued at $ 5.32per share in exchange for the conversion of $ 54,265.09worth of the Convertible Note issued on April 19, 2024. F-70

Preferred Stock

As of September 30, 2024 and December 31, 2023, the Company also had a total of 1,000,000shares of preferred stock authorized. There were nopreferred shares issued or outstanding as of September 30, 2024 and December 31, 2023. The board of directors of the Company has the authority to establish one or more series of preferred stock, fix the voting rights, if any, designations, powers, preferences and any other rights, if any, of each such series and any qualifications, limitations and restrictions thereof.

Warrants

As of December 31, 2023, warrants to purchase up to 493,800shares of common stock were issued and outstanding. These warrants were related to financing activities. As inducement to extend the maturity of an existing note with warrants, on February 5, 2024, the Company issued 3,600additional penny warrants with a five-year term to the noteholder with a five-year term.

On April 19, 2024, the Company entered into a Purchase Agreement with an institutional investor pursuant to which we sold, and the investor purchased a warrant to purchase an aggregate of 96,444shares of common stock. The warrant is exercisable for shares of common stock at a price of $ 12per share (the “Exercise Price”). The warrant is exercisable immediately and expires on October 20, 2029. The Exercise Price is subject to full ratchet anti-dilution protection, subject to certain price limitations required by Nasdaq rules and regulations and certain exceptions. In conjunction with the transaction, the Company issued warrants for the purchase of 9,644shares of common stock with an exercise price of $ 13.18per share for their role as placement agent, which is exercisable at any time on or after October 19, 2024 and will expire on the third anniversary of the effective date of the registration statement registering the underlying warrant shares.

|                                  |     | Warrants |         |     | Weighted 
 Average  
 Exercise 
 Price    |        |     | Weighted     
 Average      
 Remaining    
 Contractual  
 Term (Years) |      |
|:---------------------------------|:----|:---------|--------:|:----