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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July
29, 2024
ALTERNUS CLEAN ENERGY, INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-41306 |
|
87-1431377 |
(State or other jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification Number) |
360 Kingsley Park Drive, Suite 250
Fort Mill, South Carolina |
|
29715 |
(Address of registrant’s principal executive office) |
|
(Zip code) |
(803) 280-1468
(Registrant’s telephone number, including area
code)
N/A
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of
the Act:
Title of each class |
|
Trading
symbol(s) |
|
Name of each exchange on which
registered |
Common Stock, par value $0.0001 per share |
|
ALCE |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an
emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
| Item 7.01. | Regulation FD Disclosure. |
As previously
disclosed, (i) in 2021, Solis Bond Company, Designated Activity Company (“Solis”), a company formed under the laws of Ireland
and an indirect, wholly owned subsidiary of Alternus Clean Energy, Inc. (the “Company”), issued certain 3-year FRN senior
secured green bonds 2021/2024 (ISIN NO0010914914) (the “Solis Bonds”) in the maximum amount of €200 million (approximately
$218 million) with a stated coupon rate of 6.5% plus EURIBOR and quarterly interest payments and (ii) Solis previously breached certain
financial covenants of the Solis Bonds, and the holders of the Solis Bonds approved, among other things, provided temporary waivers of
such covenants and related extensions of such waivers in each of April 2023, June 2023, October 2023, January 2024, February 2024, March
2024, June 2024, July 2024, and now extended to August 30, 2024.
Earlier
Solis disclosed in a notice filed on the Euronext Growth Oslo stock exchange (the “Euronext”) details related to the further
extension and waiver of the Solis Bonds. As was previously disclosed on February 26, 2024, the Bond Trustee, with approval from a majority
of the Bondholders, may further extend the Bonds on a month to month basis to 29 November 2024. A copy of such notice is attached hereto
as Exhibit 99.1 and incorporated herein by reference.
Forward Looking Statements
All statements contained in this
Current Report on Form 8-K other than statements of historical facts, including any information on the Company’s plans or future
financial or operating performance and other statements that express the Company’s management’s expectations or estimates
of future performance, constitute forward-looking statements. Forward-looking statements may be identified by the use of words such as
“anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,”
“intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,”
“project,” “should,” “would” and similar expressions, as they relate to the Company or its management
team. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently
available to, the Company’s management. Such statements are based on a number of estimates and assumptions that are subject to significant
business, economic and competitive uncertainties, many of which are beyond the control of the Company. The Company cautions that such
forward-looking statements involve known and unknown risks and other factors that may cause the actual financial results, performance
or achievements of the Company to differ materially from the Company’s estimated future results, performance or achievements expressed
or implied by the forward-looking statements. These statements should not be relied upon as representing the Company’s assessments
of any date after the date of this Current Report on Form 8-K. The Company undertakes no obligation to update these statements for revisions
or changes after the date of this release, except as required by law.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
As described in Item 4.01 of this Report, the
following is filed as part of this Current Report on Form 8-K:
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: July 31, 2024 |
ALTERNUS CLEAN ENERGY, INC. |
|
|
|
|
By: |
/s/ Vincent Browne |
|
Name: |
Vincent Browne |
|
Title: |
Chief Executive Officer and Chairman of the Board of Directors |
Exhibit 99.1
Solis Bond Update
Reference is made to the updates issued by Alternus
Energy Group Plc (OSE: ALT) ("AEG") and Solis Bond Company DAC ("Solis"), an indirect wholly owned subsidiary of Alternus
Clean Energy, Inc. (NASDAQ: ALCE) ("Alternus"), a majority owned subsidiary of AEG, on 9 March 2023, 21 March 2023, 27 March
2023, 18 April 2023, 24 April 2023, 16 May 2023, 19 September 2023, 16 October 2023, 18 December 2023, 3 January 2024 ,26 February 2024,
12 March 2024,25 June 2024 and 30 August 2024. regarding the waivers of the financial covenants and extension of the maturity date sought
from the bondholders in Solis’ FRN senior secured EUR 200,000,000 green bonds 2021/2024 (ISIN NO0010914914) (the "Bonds").
AEG and Solis announce that the Bond Trustee has granted
a technical extension of the Maturity Date until 30 August 2024. As was previously disclosed on 26 February 2024, the Bond Trustee, with
approval from a majority of the Bondholders, may further extend the Bonds on a month to month basis to 29 November 2024.
About Alternus Energy Group:
The Company is a transatlantic clean energy independent
power producer (IPP). We currently develop, install, own and operate utility scale solar parks in America and Europe. Our highly motivated
and dynamic team at Alternus have achieved rapid growth in recent years. Building on this, our goal is to reach 3GW of operating projects
within 5 years through continued organic development activities and targeted strategic opportunities. Our vision is to become a leading
provider of 24/7 clean energy delivering a sustainable future of renewable power with people and planet in harmony.
AEG operates primarily through Alternus Clean Energy,
Inc. (Nasdaq: ALCE). AEG is listed on the Euronext Growth Oslo exchange and headquartered in Ireland, while Alternus Clean Energy, Inc.
is listed on Nasdaq and headquartered in the US. They remain as two separate legal entities.
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