Alternus Clean Energy, Inc. (ALCE): auditor change — Alternus Clean Energy sells subsidiaries for €10, receives Nasdaq delisting notice

Alternus Clean Energy, Inc.

On Nov 5, 2024, Alternus sold all shares of Alternus Energy Americas Inc. and AEG MH 01 Limited to majority shareholder Alternus Energy Group Plc for €10 total consideration.
The sale removed approximately $30 million in debt and payables, improving shareholders' equity by about $4 million to help meet Nasdaq minimum equity requirement.
On Nov 6, 2024, Nasdaq notified Alternus of failure to maintain Minimum Market Value of Listed Securities of $35M; delisting scheduled for Nov 15 unless appeal by Nov 13.
Alternus dismissed independent auditor Forvis Mazars, LLP and engaged Kreit & Chiu CPA, LLP as new auditor on Nov 5, 2024.

item 2.01 item 3.01 item 4.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Alternus Clean Energy, Inc. engaged Kreft & Chiu CPA, LLP as its auditor.

Action: engagement
Auditor: Kreft & Chiu CPA, LLP

Exact text from the filing

ommittee approved, and the Company’s Board of Directors (the “Board”) ratified, the engagement of Kreit & Chiu CPA, LLP (the “New Auditor”), and appointed the New Auditor as the Company’s independent registered public

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Alternus Clean Energy, Inc. dismissed Forvis Mazars, LLP as its auditor.

Action: dismissal
Auditor: Forvis Mazars, LLP

Exact text from the filing

On November 5, 2024, the Audit Committee of Alternus Clean Energy, Inc. (the “Company”) dismissed Forvis Mazars, LLP (“Forvis Mazars”) as the Company’s independent registered public accounting firm.

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M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Alternus Clean Energy, Inc. completed a disposition involving Alternus Energy Group Plc. for Euro 10.00 (closed 2024-11-05).

Action: disposition
Counterparty: Alternus Energy Group Plc.
Consideration: Euro 10.00
Closing: 2024-11-05

Exact text from the filing

LLC; ALT US 05 LLC; ALT US 06 LLC; ALT US 07 LLC and its subsidiary River Song Solar LLC; ALT US 08 LLC; ALT US AM LLC (the “Transaction”), for a total consideration of Euro 10.00. Additionally, on November 5, 2024, the Company further entered into another Share Purchase Agreement with Alternus Energy Group Plc., a majority shareholder of the Company, (the

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Alternus Clean Energy, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-095921

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