Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 1835

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 5
Chunk 1835
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 the Company issued warrants for the purchase of 6,536 shares of common stock with an exercise price of $2.20 per
share to Maxim for their role as placement agent, which is exercisable at any time on or after June 5, 2025 and will expire on December
19, 2027.

As of December 31, 2024, the
outstanding principal was $2.2 million with fair value of $0.3 million gain at that date. The Company also recorded a $0.7 million loss
on movement in fair value in the yead ended December 31, 2024.

As of December 31, 2024, $34,146
worth of this note (including principal plus accrued interest and late fees and penalties) had been converted into 45,429 shares and a
$250,000 payment was made towards the principal balance leaving $2.2 million of the note principal outstanding.

On December 4, 2024, the Company
entered into a Note Purchase Agreement (the “Purchase Agreement”) with Secure Net Capital LLC (“Secure Net”),
pursuant to which the Company issued a 20% Original Issue Discount promissory convertible note (the “2024 Note”) with a maturity
date in April 2025, in the principal sum of $1,250,000. Pursuant to the terms of the 2024 Note, the Company agreed to pay to Secure Net
the entire principal amount on the Maturity Date, failing which and certain events of default (as described in the 2024 Note), the 20%
Original Issue Discount shall increase to 30% Original Issue Discount. The Purchase Agreement resulted in net proceeds of $1,000,000 to
the Company. The 2024 Note, issued pursuant to the Purchase Agreement, is convertible at the option of the Holder at any time after the
Maturity Date, including with registration rights, at a conversion price per share equal to ninety percent (90%) of the Company’s
common stock’s VWAP (which is the the three (3) Trading Days immediately prior to such Conversion Date (or the nearest preceding
date)) as of the date of such conversion (the “Conversion Date”).

Other Debt:

In January 2021, the Company
approved the issuance by one of its subsidiaries, Solis, of a series of 3-year senior secured green bonds in the maximum amount of $242.0
million (€200