---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-128865"
form_type: "8-K"
ticker: "ALCE"
cik: "0001883984"
company_name: "Alternus Clean Energy, Inc."
filed_at: "2023-12-22T23:59:59+00:00"
generated_at: "2026-06-07T08:21:49.180116+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Alternus Clean Energy closes SPAC merger; issues 30M extra shares, removes earnout

## Summary
- Closed business combination with Clean Earth Acquisitions; becomes Alternus Clean Energy (ALCE).
- Issued 57.5M shares to Alternus Energy Group (AEG) as consideration; amended terms added 30M shares.
- Removed earnout milestones (EBITDA: $16M FY23, $52M FY24, $156M FY25) and cash closing condition.
- Acquired subsidiaries exclude Unisun (60% stake) and AEG JD 02; assumed €850K convertible note from Alternus FundCo.
- New board and officers: Vincent Browne CEO, Joseph Duey CFO, and eight directors named.

## SEC filing metadata
- accession: 0001104659-23-128865
- form_type: 8-K
- ticker: ALCE
- cik: 0001883984
- company_name: Alternus Clean Energy, Inc.
- filed_at: 2023-12-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 2.01, 9.01, 3.02, 3.03, 4.01, 5.01, 5.02, 5.06
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1883984/000110465923128865/0001104659-23-128865-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1883984/000110465923128865/tm2333141d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-128865
- JSON: https://secwatch.observer/filing/0001104659-23-128865.json
- Plain text: https://secwatch.observer/filing/0001104659-23-128865.txt

## Key facts
- Governance Changes
  Alternus Clean Energy, Inc.: Third Amended and Restated Certificate of Incorporation filed with Delaware Secretary of State (effective 2023-12-22).
  - Change: charter amendment
  - Effective: 2023-12-22
  source text: on December 22, 2023, the Company filed the Charter with the Secretary of State of the State of Delaware.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883984/000110465923128865/0001104659-23-128865-index.htm
- Governance Changes
  Alternus Clean Energy, Inc.: Company ceased to be a shell company upon closing of business combination.
  - Change: shell status
  source text: Upon the Closing, the Company ceased to be a shell company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883984/000110465923128865/0001104659-23-128865-index.htm
- Material Agreements
  Alternus Clean Energy, Inc. amended Amended and Restated Business Combination Agreement with AEG and Sponsor valued at Amends initial business combination agreement: increases shares to seller by 30 million, removes ear (effective 2023-12-22).
  - Action: amendment
  - Agreement: merger
  - Counterparty: AEG and Sponsor
  - Value: Amends initial business combination agreement: increases shares to seller by 30 million, removes ear
  - Effective: 2023-12-22
  source text: On December 22, 2023, CLIN entered into that certain Amended and Restated Business Combination Agreement with AEG and Sponsor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1883984/000110465923128865/0001104659-23-128865-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.