Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 201

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 201
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5, a portion equal to $22,072
of the Assigned Convertible Note was converted into 32,190 shares of unrestricted common stock, valued at $0.60 per share.

Extension of Notes with SNC:

On July 31, 2025 the $1,250,000 promissory note
issued in December of 2024 was extended to September 5, 2025 and the original issue discount (OID) was increased to 55%. On September
3, 2025 the note was further extended to October 5, 2025 and the OID was increased to 60%. Also on September 3, 2025 the $312,500 note
issued in May of 2025 was extended to October 5, 2025 and the OID was increased to 25%. On October 22, 2025 both notes were extended to
November 5, 2025 and each note’s OID was increased by an additional 5%.

1:200 Reverse Stock Split:

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 “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 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 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 of the Reverse Stock Split’ results in the fractional interests.
No fractional shares were issued in connection with the Reverse Stock Split. Stockholders who otherwise would have been entitled to receive
fractional shares of Common Stock received an amount in cash (without interest or deduction) equal to the fraction of one share to which
such stockholder would