Clean Earth extends Alternus deal deadline to Nov 28, 2023; 14.9M shares redeemed for $154M

Alternus Clean Energy, Inc.

Stockholders approved charter extension; sponsor to deposit up to $195K per monthly extension until Nov 28, 2023.
14,852,437 Class A shares redeemed at ~$10.38 per share, reducing trust account by ~$154.2M.
Remaining trust balance ~$84.6M after redemptions, excluding future extension payments.
Business Combination Agreement with Alternus Energy extended by mutual consent to Nov 28, 2023.
Sponsor extension payments are exchanged for non-interest bearing promissory notes.

item 1.01 item 2.03 item 5.07 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Alternus Clean Energy, Inc.: Stockholders approved an amendment to the Charter to extend the deadline to consummate a business combination up to six times from May 28, 2023 to November 28, 2023, with monthly extension payments into the trust account (effective 2023-05-26).

Change: charter amendment
Effective: 2023-05-26

Exact text from the filing

On May 26, 2023, the Company filed a Certificate of Amendment of the Charter with the Secretary of State of the State of Delaware (the “ Charter Amendment ”) to reflect the Charter Amendment Proposal and address any scriveners or typographical errors.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alternus Clean Energy, Inc. entered into Written Consent with Alternus Energy Group Plc (effective 2023-05-25).

Action: entry
Agreement: asset purchase
Counterparty: Alternus Energy Group Plc
Effective: 2023-05-25

Exact text from the filing

on May 25, 2023, the Company and Alternus executed a mutual written consent (the “ Written Consent ”) pursuant to which the Company and Alternus agreed, pursuant to Section 7.03(b) of the Business Combination Agreement, to extend the Termination Date (as defined in the Business Combination Agreement) to November 28, 2023.

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Alternus Clean Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-065727

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