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New York, New York--(Newsfile Corp. - January 24, 2025) - Alternus Clean Energy, Inc. (NASDAQ: ALCE) ("ALCE", "Alternus" or the "Company") a renewable energy company, today announced the closing of its previously announced private placement of $2.25 million pursuant to the terms of a securities purchase agreement, dated January 21, 2025, with several institutional investors (the "Purchasers").
The offering was in the form of an Unsecured 20% Original Issue Discount Promissory Note (the "Note"), resulting in proceeds (before expenses) to Alternus of approximately $2.25 million (out of the total $2.81 million offering size). The Company shall use the net proceeds from the said offering for working capital and general corporate purposes. The Note is fully repayable in cash upon maturity, as defined in the form of Note.
As part of the offering, the Purchasers were also issued an aggregate of 1,526,058 shares of the Company's common stock, par value $0.0001 per share. Alternus has agreed to file a registration statement registering for the resale of the shares.
Maxim Group LLC acted as the sole placement agent for the offering.
The securities described above were offered in a private placement exempt from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and in a transaction not involving a public offering and were not registered under the Act or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Alternus Clean Energy, Inc.:
Alternus Clean Energy, Inc. is a NASDAQ-listed renewable energy company committed to advancing sustainable solutions. With a focus on utility-scale projects, such as solar parks, and complementary technologies like microgrids and battery storage, we aim to deliver comprehensive, clean energy across Europe and America. Through strategic investments, we are building a portfolio poised to lead the transition to a sustainable energy future. For more information, please visit https://alternusce.com/.