Company: ALCE
Filing Date: 2025-06-30
Form Type: 10-Q
Source: 0001213900-25-059349
Chunk: 166

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-30
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 Mr. Thomas, our executive director, 5,000,000
shares to Ms. Durant, our CLO, 2,500,000 shares to an employee for past services rendered, 5,750,000 shares to Hover Energy LLC for certain
assets acquired and 27,570,000 shares to four accredited third party debt holders.

On April 24, 2025 the Company
issued an additional 50,000 shares of Series A Super Voting Preferred Stock to Mr. Browne.

30

On April 25, 2025, Mr. Vincent
Browne, our Chief Executive Officer, Interim Chief Financial Officer and shareholder with majority voting rights, representing 87% of
the shares entitled to vote, approved an amendment to our Certificate of Incorporation to increase the total number of authorized shares
of common stock from 300,000,000 to 600,000,000.

On April 28, 2025, the Company
entered into a Note Purchase Agreement (the “Purchase Agreement”), by and between the Company and an institutional investor
(the “Investor”), pursuant to which the Company agreed to issue to the Investor promissory notes in the aggregate total principal
amount of up to $558,000, with the first tranche of $318,000 closing immediately and the remaining $240,000 to close upon request of the
Company and at the Investor’s discretion, having a 16.67% original issue discount, an interest rate of 12% per annum and a maturity
date of December 31, 2025 (the “Notes”). Pursuant to the Purchase Agreement, with the closing of the private placement of
the Note (the “Private Placement”), the Company received gross proceeds of $265,000, before fees and other expenses associated
with the transaction. On May 30, 2025, a second partial tranche in the amount of $180,000 of the Notes closed, and the Company received
gross proceeds of $150,000.

Also on April 28, 2025, the
Company entered into a Letter Agreement with the Investor, which modifies certain terms and conditions of the Senior Convertible Note
issued April 19, 2024 and the Senior Convertible Note issued October 1, 2024, by the Company to the Investor, collectively (the “2024
Notes”). The interest rate on the 2024 Notes is and will continue at a rate of 12% per annum.