FORT MILL, S.C., April 22, 2024 (GLOBE NEWSWIRE) -- Utility-scale transatlantic clean energy independent power producer Alternus Clean Energy, Inc. (NASDAQ:ALCE) ("Alternus" or the "Company") today announced the closing of an approximately $2.16 million private placement pursuant to the terms of a securities purchase agreement, dated April 19, 2024, with a certain institutional investor (the "Investor"). The investment is in the form of a Senior Unsecured Original Issue 8% Discount Convertible Note (the "Note"), resulting in proceeds before expenses to Alternus of approximately $2.0 million. The Company expects to use the proceeds from this offering to continue executing on its business plan, including funding planned capital expenditures and working capital. The Note has a 12-month maturity. In addition, the Note will be convertible into shares of common stock of the Company at an initial conversion price equal to $0.48 per share of common stock, which represents 125% of the average closing price over the seven trading days prior to closing, subject to adjustment as further specified in the Note. The Note will be fully repayable in cash upon maturity if not fully converted prior. In addition, the institutional investor has the option of prepayment of up to 20% of the issuance amount of a subsequent financing. As part of the investment, the investor was also granted a five and a half year warrant to purchase an aggregate of 2,411,088 shares of common stock at an exercise price equal to $0.48 per share, subject to adjustment (the "Warrant").     Maxim ...