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Alternus Clean Energy, Inc. (Aedis Energy Inc., ALCE) reported two governance-related developments. On September 1, 2026, the company issued an aggregate of 4,000 shares of restricted common stock to members of its Board of Directors as compensation for past Board and committee service, including 1,000 shares each to VestCo I Corp (owned and controlled by Vincent Browne) and John Thomas, and 500 shares each to Rolf Wikborg, Tone Bjornov, Mighty Sky LLC (owned and controlled by Aaron Ratner) and Nicholas Parker. These shares were issued in a private placement relying on Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D to accredited investors without general solicitation. The company also disclosed that Chief Legal Officer Taliesin Durant resigned on August 31, 2026, effective September 11, 2026, and will remain available on an as-needed basis for transition, with the company stating her decision was not due to any disagreement over operations, policies or practices.
Alternus Clean Energy, Inc. (ACLEW) reported that, effective August 31, 2026, it changed its corporate name to Aedis Energy Inc. via a Certificate of Amendment filed in Delaware. Common stock is temporarily trading under the symbol “ALCED” and is expected to trade under “ADIS” on the OTC Pink marketplace starting September 17, 2026.
The company is rebranding around a strategy focused on onsite energy generation for commercial and industrial customers, shifting away from legacy grid-focused operations. Aedis highlights a platform approach that is technology-agnostic, targeting generation, storage and energy management solutions, including a 51%‑controlled joint venture, EverOn Energy, with Hover Energy for integrated microgrid offerings.
Alternus Clean Energy, Inc. (ALCE) approved and implemented a 1-for-2,500 reverse stock split of its common stock effective at 12:01 a.m. Eastern Time on August 20, 2026. Every 2,500 issued and outstanding shares of common stock were automatically combined into one share, with no change to the $0.0001 par value or the total number of authorized shares.
The reverse split reduced issued and outstanding common shares from approximately 724,658 to approximately 290 and was applied proportionately, so ownership percentages remain generally unchanged except where holders receive cash in lieu of fractional shares. Proportional adjustments were made to warrants, convertible preferred stock, other convertible securities and the 2023 Equity Incentive Plan. The stock trades post-split on the OTC Pink/OTC Markets on a split-adjusted basis, using the temporary symbol “ALCED” for 20 trading days before changing to “ADIS,” with a new CUSIP 02157G 408. The company states that the primary goal is to increase the per-share price to meet minimum bid requirements for a potential national exchange listing and to support a committed $10 million PIPE investment and broader investor appeal.
Alternus Clean Energy, Inc. reported no operating revenue for the three and six months ended June 30, 2026 and relies on its EverOn Energy LLC joint venture to develop Wind Powered Microgrids under long-term Energy-as-a-Service contracts for future income.
For the six months, the company recorded a net loss of $3.5 million, negative operating cash flow of $1.9 million, and an accumulated deficit of $75.5 million. Cash was $1.07 million against total assets of $57.1 million and current liabilities of $28.6 million, largely term loans and convertible/OID notes.
Management disclosed that these losses, limited liquidity, heavy secured debt, and lack of revenue raise substantial doubt about the ability to continue as a going concern. The company has term sheets for up to $20 million in preferred equity and a proposed $50 million equity line, but both remain subject to conditions and do not remove this doubt.
Results also reflect significant non-cash items: amortization of acquired EverOn intangibles, fair value losses on convertible and OID notes, and gains from settling OID notes with preferred stock. Shareholders’ equity attributable to Alternus increased to $10.1 million, supported by multiple series of convertible preferred stock, while several legal matters have resulted in arbitration awards and court judgments that are accrued as liabilities.
Alternus Clean Energy, Inc. amended a prior report to add unaudited pro forma financials for its EverOn Energy LLC joint venture with Hover Energy LLC. On September 30, 2025, Alternus sold a 49% interest in EverOn to Hover and retained 51%, treating the series of agreements as a business acquisition under ASC 805.
As consideration for its 51% interest, Alternus issued 20,000 shares of Series B Convertible Preferred Stock to Hover, preliminarily valued at $1,526 per share (about $30.5 million), and contributed $5.2 million of capitalized project assets plus $0.9 million of software, for total consideration of about $36.5 million. Hover’s 49% non‑controlling interest was preliminarily valued at $20.4 million, implying a joint‑venture enterprise value of roughly $56.9 million.
The purchase price was allocated to identifiable intangibles — including customer relationships, favorable contracts, and software — and $18.96 million of goodwill. Pro forma statements show added MSA service fees and intangible amortization, with a portion of EverOn’s results attributed to Hover as non‑controlling interest.
Alternus Clean Energy, Inc. entered subscription agreements with 15 accredited investors on August 5, 2026, issuing 14,280 shares of Series F Convertible Preferred Stock, valued at $1,000 per share, for an aggregate face amount of $14,280,000. Consideration included extensions of promissory note maturities, advisory board appointments, consulting agreements, past advisory services and a waiver of accrued interest on a promissory note.
Including 750 shares issued on June 30, 2026, 15,030 of 15,750 authorized Series F shares are now issued. The board approved an amended and restated certificate of designation that removes the prior December 31, 2026 maturity date and revises automatic conversion to occur on a board-selected date 5–10 business days before an uplist, using a $1,000 per-share value divided by the common stock closing price. Series F has no general voting or dividend rights, but majority Series F consent is required for specified corporate actions, is subject to a 9.99% beneficial ownership conversion cap, and receives liquidation distributions only after Series B–E preferred and common stock.
Alternus Clean Energy, Inc. obtained written consent from its majority stockholder, who controls approximately 99.9% of the voting power, to approve two corporate actions without holding a meeting. First, the company will amend its certificate of incorporation to change its name to Aedis Energy Inc., reflecting a strategic shift away from utility-scale solar parks sold in 2024–2025 toward microgrids and broader renewable and storage technologies.
Second, the company approved, for purposes of Nasdaq Listing Rule 5635(d), the potential issuance of common shares upon conversion of its Series B, C, D and E Convertible Preferred Stock at a conversion price of $0.10 per share, in an amount that may exceed 19.99% of outstanding common stock or voting power. As of July 9, 2026, outstanding preferred shares could convert into up to 375,820,000 common shares at the current conversion price, far above the 724,658 common shares outstanding as of the record date, and the company highlights the risk of significant dilution and potential downward pressure on its common stock price.
Alternus Clean Energy, Inc. reports Q3 2025 results showing a business still under significant financial strain but reshaped by a major joint venture. The company generated no revenue from continuing operations and recorded a Q3 net loss of $9.7M, with a nine‑month loss of $4.7M. Total assets jumped to $57.5M as of September 30, 2025, driven by newly recognized intangibles and goodwill from the EverOn Energy joint venture, while total liabilities were $34.9M and total shareholders’ equity was $22.6M, including $20.4M of noncontrolling interest. Despite this, the company had only $39K of cash, recurring operating losses, and heavy use of convertible and OID notes, leading management to conclude there is substantial doubt about its ability to continue as a going concern. During 2025 the company was delisted from Nasdaq due to listing rule noncompliance, and its common stock now trades on the OTC market.
Alternus Clean Energy, Inc. entered into a private placement on March 27, 2026, selling 2,150 shares of Series D Convertible Preferred Stock for aggregate gross proceeds of $1,000,000 to an accredited investor. The company plans to use the cash for working capital and general corporate purposes.
The investor also received a one-year put option allowing it to require repurchase of up to 1,150 Series D shares at $1,000 per share after the company raises at least $8 million in new equity. On March 31, 2026, the company further issued 7,583 Series D and 684 Series E Convertible Preferred shares in full repayment of about $8.267 million of promissory note debt. New Series D and Series E designations authorize up to 20,000 shares each, with a stated value of $1,000 per share and initial conversion price of $0.10 per common share, subject to anti-dilution adjustments, ownership caps and, for Series E, piggyback registration rights.