Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 50

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 50
---
 extent that the 2024 Reverse
Stock Split results in fractional interests. No fractional shares will be or shall be issued in connection with the 2024 Reverse Stock
Split. Stockholders who otherwise would be entitled to receive fractional shares of Common Stock will receive an amount in cash (without
interest or deduction) equal to the fraction of one share to which such stockholder would otherwise be entitled multiplied by the share
price, representing the product of the average closing price of the Company’s common stock on the Nasdaq Capital Market for the
five consecutive trading days immediately preceding the effective date of the 2024 Reverse Stock Split and the inverse of the 2024 Reverse
Stock Split ratio. Proportional adjustments have also been made to the Company’s outstanding warrants, stock options, and convertible
securities, as well as to the reserves available pursuant to the terms of the Company’s 2023 Equity Incentive Plan to reflect the
2024 Reverse Stock Split, in each case, in accordance with the terms thereof.

26

On September 5, 2025, the
Company effected a one-for-two hundred (1:200) reverse stock split of all issued and outstanding shares of the Company’s common
stock, par value $0.0001 per share (the “Common Stock”) effective as of 12:01 a.m. Eastern Time on September 5, 2025 (the
“Sept 2025 Reverse Stock Split”), vide a Certificate of Amendment to the Third Amended and Restated Certificate of
Incorporation of Alternus Clean Energy, Inc. (the “Certificate of Amendment”) filed with the Secretary of State of Delaware
on September 2, 2025, and deemed effective on September 5, 2025 at 12:01 a.m. Eastern Time.

As a result of the Sept 2025
Reverse Stock Split, every two hundred (200) shares of issued and outstanding Common Stock combined into one (1) validly issued, fully
paid and nonassessable share of Common Stock. The Sept 2025 Reverse Stock Split uniformly affected all issued and outstanding shares of
Common Stock and did not alter any stockholder’s percentage ownership interest in the Company, except to the extent that the Sept
2025 Reverse Stock Split results in fractional interests. No fractional shares were issued in connection with the Sept 2025 Reverse Stock
Split. Stockholders who otherwise would have been entitled to receive fractional shares of Common Stock received an amount in cash