Alternus Clean Energy issues $1.25M convertible note with 20% OID, net $1M proceeds

Alternus Clean Energy, Inc.

Issued $1.25M principal 20% OID convertible note to Secure Net Capital LLC, maturing April 2025.
Net proceeds of $1.0M will be used for working capital.
Note convertible at 90% of VWAP after maturity; if default, OID increases to 30%.
Placement agent Dominari Securities LLC received warrants for 5% of shares issuable upon conversion at 115% of conversion price.
Note is senior direct debt, subordinate to 3i, LP senior convertible notes.

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