Corporate ActionAug 5, 2026, 02:16 PM
Alternus Clean Energy Issues $14.28M Series F Preferred Stock, Amends Terms
AI Summary
Alternus Clean Energy, Inc. issued 14,280 shares of Series F Convertible Preferred Stock, valued at $14.28 million, to 15 accredited investors. The consideration included extending debt maturity dates, appointments to the Advisory Board, consulting agreements, past services, and interest forgiveness. Concurrently, the company amended the Series F terms, revising the conversion trigger to the Board's discretion (5-10 business days prior to Uplist) and removing the December 31, 2026 maturity date, providing greater flexibility.
Key Highlights
- Issued 14,280 Series F Convertible Preferred Stock shares for $14.28 million.
- Shares issued to 15 accredited investors for various considerations.
- 3,580 Series F shares exchanged for extending debt maturity dates.
- 2,990 Series F shares for Advisory Board appointments.
- 4,470 Series F shares for consulting agreements.
- Conversion trigger revised to Board's discretion (5-10 days pre-Uplist).
- Removed December 31, 2026 maturity date for Series F.
- Total 15,030 Series F shares issued out of 15,750 authorized.
Price Impact