M&A
confidence high
sentiment positive
materiality 0.60
Alternus Clean Energy signs binding terms to acquire LiiON for $5M in debt and equity
Alternus Clean Energy, Inc.
- Total consideration: $2M non-convertible loan note (3 yr), 250K restricted shares at $12/share, $30K/mo consulting for 3 key employees.
- Expected to close before end of fiscal 2024; company expects ~$3M improvement in shareholder equity from the deal.
- LiiON has blue-chip customers including Amazon, NASA, Walmart; Alternus will form a new BESS division and enter microgrid segment.
- LiiON’s intellectual property will be exclusively licensed to Alternus under the definitive agreements.