secwatch.observer — SEC 8-K summary
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Issuer:     Alternus Clean Energy, Inc. (ALCE)
CIK:        0001883984
Form:       8-K
Filed at:   2023-04-18T23:59:59+00:00
Accession:  0001104659-23-046821
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Clean Earth Acquisitions halves deal value to $275M; earnout shares cut to 20M
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- Business combination valuation reduced from $550M to $275M, with shares valued at $10 each.
- Earnout shares lowered from 35M to 20M; milestones tied to Adjusted EBITDA targets ($16M, $52M, $156M) and share price thresholds ($11, $13, $15).
- Citigroup forfeits remaining $3.6M deferred discount, totaling $7.245M waived on deal close.
- Amendment dated April 12, 2023; parties include Clean Earth, Alternus Energy Group, and Sponsor.
- Closing consideration adjusted downward; earnout escrow shares and milestones revised.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883984/000110465923046821/0001104659-23-046821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883984/000110465923046821/tm2312967d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-046821

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer