Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 58

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 58
---
 by each company’s board of directors. Specifically during the period, the Company issued 201,600 shares to AEG and its
affiliates having a fair value of $1.4 million. These transactions are recorded as a net receivable of $1.1 million in the Consolidated
Balance Sheet as at June 30, 2025.

Nordic ESG:

In January of 2024, the Company
issued 1,553 shares of restricted common stock valued at $6,150 per share to Nordic ESG and Impact Fund SCSp (“Nordic ESG”)
as settlement of AEG’s €8m note. This resulted in Nordic ESG becoming a 10% shareholder. As of June 30, 2024 Nordic ESG was
a 9.7% shareholder; As of December 31, 2024 Nordic ESG was a 6.5% shareholder, and as of June 30, 2025 Nordic ESG held less than 1%.

32

Sponsor:

On March 19, 2024 we entered
into a settlement agreement with the Clean Earth Acquisitions Sponsor LLC (“Sponsor”) and SPAC Sponsor Capital Access (“SCA”)
pursuant to which, among other things, we agreed to repay Sponsor’s debt to SCA, related to the Sponsor’s SPAC entity extensions,
in the amount of $1.4 million and issue 45 shares of restricted common stock valued at $2,350 per share to SCA. As of June 30, 2024
and 2025, Sponsor was a 4% and less than 1% shareholder, respectively.

D&O:

In connection with the Business
Combination Closing, the Company entered into indemnification agreements (each, an “Indemnification Agreement”) with its directors
and executive officers. Each Indemnification Agreement provides for indemnification and advancements by the Company of certain expenses
and costs if the basis of the indemnitee’s involvement in a matter was by reason of the fact that the indemnitee is or was a director,
officer, employee, or agent of the Company or any of its subsidiaries or was serving at the Company’s request in an official capacity
for another entity, in each case to the fullest extent permitted by the laws of the State of Delaware.

On January 28, 2025, John
McQuillan, a Class I director of the Company, resigned from the