secwatch.observer — SEC 8-K summary
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Issuer:     Alternus Clean Energy, Inc. (ALCE)
CIK:        0001883984
Form:       8-K
Filed at:   2024-10-09T23:59:59+00:00
Accession:  0001213900-24-086402
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 3.03, 8.01, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alternus Clean Energy to effect 1-for-25 reverse stock split on Oct 11, 2024 to meet Nasdaq bid price rule
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- 1-for-25 reverse stock split effective Oct 11, 2024; reduces outstanding shares from ~87.3M to ~3.5M.
- Split aims to regain compliance with Nasdaq $1.00 minimum bid price rule (Listing Rule 5550(a)(2)).
- Authorized share count unchanged; fractional shares paid in cash based on 5-day pre-split average.
- Stockholders approved reverse split at Sept 26, 2024 annual meeting; Board set ratio at 1:25.
- CEO Vincent Browne says split is required but does not change fundamental value, supports growth strategy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1883984/000121390024086402/0001213900-24-086402-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1883984/000121390024086402/ea0217120-8k_alternus.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-086402

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