secwatch.observer — SEC 8-K summary
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Issuer:     Alternus Clean Energy, Inc. (ALCE)
CIK:        0001883984
Form:       8-K
Filed at:   2024-10-03T23:59:59+00:00
Accession:  0001213900-24-084847
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alternus issues up to $2.5M senior convertible notes; initial $700K to repay prior defaults
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- Issued initial $795,455 face value convertible note with 10% OID, netting $700K gross proceeds.
- Notes bear 7% interest (18% on default), mature Oct 1, 2025; convertible at $0.08/share (floor $0.03).
- Warrants to purchase up to 5,319,602 shares at $0.08, exercisable for 5.5 years.
- Proceeds used to repay late fees/default interest on $2.16M prior note and for working capital.
- Forbearance agreement waives existing defaults on prior note; parent (67% owner) to vote for shareholder approval if needed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883984/000121390024084847/0001213900-24-084847-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883984/000121390024084847/ea0216621-8k_alternus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-084847

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