Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 225

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 225
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    $13,348  
     616%

On April 29, 2025, the LiiON asset purchase agreement
was rescinded, resulting in a disposal of assets. There were no costs incurred to complete the transaction. The Company recorded a loss
of $33,700 in the income statement for the three months ended June 30 in relation to the transaction.

On March 25, 2025, the Company sold its subsidiaries
in Spain to AEG, a related party. There were no costs incurred to complete the transaction. As a result of the Transaction, the Company
recorded a gain on the sale of $3.5 million and removed approximately $3 million in debt and payables related to MH02’s activities
(See footnote 16).

On May 7, 2025, the Company sold AEG MH 02 Limited
(“MH02”) and all its subsidiaries to third parties. There was no cost incurred to complete the sale. As a result of the Transaction,
the Company recorded a gain on the sale of $11.9 million and removed approximately $18.3 million in debt and payables related to MH02’s
activities (See Footnote 18).

On January 19, 2024, the Company sold its operating
parks in Poland with a carrying value of $55.2 million for $59.4 resulting in a $4.2 million gain partially offset by a $0.9 million loss
on sale of assets in the Netherlands. $1.6M of the cash received was held back by the seller per the SPA and recorded as a receivable
on the Consolidated Balance Sheet. On February 22, 2024, the Company sold its operating park in the Netherlands with a carrying value
of $8.0 million for $7.1 million resulting in a $0.9 million loss. The costs incurred to complete the transaction totaled $1.2 million
and are reported together with the disposal of the assets according to ASC 360-10-35-38.

Interest Expense, Other Income, and Other Expense

    Three Months Ended June 30, 

    2025  
    2024  
    Change  ($)  
    Change (%) 

    (in thousands) 
  
    Interest expense 
    $(1,250) 
    $(809) 
    $(441) 
     (55)%
  
    Fair value movement on convertible note