Form 8-K - Current report
March 12 2024 - 9:16AM
Edgar (US Regulatory)
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0001883984
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2024-03-12
2024-03-12
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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): March 12, 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) |
(800)
581-1531
(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 ☒
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, temporary waivers
of such covenants and related extensions of such waivers in each of April 2023, June 2023, October 2023 and January 2024.
On
March 12, 2024, Alternus Energy Group plc (OSE: ALT), a majority stockholder of the Company, disclosed in a notice filed on the Euronext
Growth Oslo stock exchange (the “Euronext”) that Solis’ bondholders formally
approved certain resolutions previously disclosed on the Euronext on February 26, 2024, including, among other things, an
extension of the temporary waivers and the maturity date of the Solis Bonds until 30 April 2024, with the right to further extend
to May 31 2024 at the Bond Trustee’s discretion, and thereafter on a month to month basis to 29 November 2024 at the Bond Trustee’s
discretion and approval from a majority of Bondholders. A copy of the notice is attached hereto as Exhibit 99.1 and incorporated herein
by reference.
Item
9.01. Financial Statements and Exhibits.
(d)
Exhibits.
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:
March 12, 2024 |
ALTERNUS
CLEAN ENERGY, INC. |
|
|
|
|
By: |
/s/
Vincent Browne |
|
Name: |
Vincent
Browne |
|
Title: |
Chief
Executive Officer and
Chairman of the Board of Directors |
2
Exhibit 99.1
Update on Bond Waiver and Amendments to the Bond Terms
Dublin, 12 March 2024,
Reference is made to the updates issued by Alternus
Energy Group Plc (OSE: ALT) (the “Company”) and Solis Bond Company DAC (“Solis”), an indirect wholly owned subsidiary
of Alternus Clean Energy, Inc. (NASDAQ: ALCE), a majority owned subsidiary of the Company, 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, 31 January 2024 and 26
February 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 Company and Solis are pleased to announce
that the bondholders have voted to approve the resolutions for the extension of the waivers and the maturity date to the Bond Terms, as
previously attached to the Company’s notice filed on 26 February 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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Entity File Number |
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|
Entity Registrant Name |
ALTERNUS
CLEAN ENERGY, INC.
|
Entity Central Index Key |
0001883984
|
Entity Tax Identification Number |
87-1431377
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
360
Kingsley Park Drive
|
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Suite
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|
Entity Address, City or Town |
Fort
Mill
|
Entity Address, State or Province |
SC
|
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|
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