Alternus Clean Energy, Inc. (NASDAQ: ALCE) ("ALCE", "Alternus" or the "Company") a renewable energy company, today announced the pricing of an approximately $2.25 million private placement round pursuant to the terms of a securities purchase agreement, dated January 21, 2025, with several institutional investors (the "Purchasers"). The closing of the current private placement round is expected to occur on or about January 23, 2025, subject to the satisfaction of customary closing conditions.
The offering is in the form of an Unsecured 20% Original Issue Discount Promissory Note (the "Note"), resulting in expected proceeds (before expenses) to Alternus of approximately $2.25 million. The Company shall use the net proceeds from the said offering for working capital and general corporate purposes. The Note shall be fully repayable in cash upon maturity, as defined in the form of the Note.
As part of the offering, the Purchasers will also be issued an aggregate of 1,526,058 shares of the Company's common stock, par value $0.0001 per share (the "Shares"). Alternus has agreed to file a registration statement registering for the resale of the Shares.
Maxim Group LLC is acting as the sole placement agent for the offering.
The securities described above will be offered in a private placement exempt from the registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended (the "Act") and Regulation D promulgated thereunder and in a transaction not involving a public offering and have not been registered under the Act or applicable state securities laws. Accordingly, the securities may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Act and such applicable state securities laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
