Alternus Clean Energy has completed the acquisition of LiiON, LLC through an asset purchase agreement which was finalised by one of its US subsidiaries. As part of this agreement, Alternus will pay $5 million through a combination of debt and equity thereby acquiring LiiON’s customer contracts, service agreements, and partnerships.
Additionally, LiiON will provide Alternus an exclusive license to its intellectual property, where applicable. The total consideration to be provided by Alternus includes a $2 million non-convertible loan note to be paid over three years and 250,000 shares of common stock, valued at an underlying price of $12.00 per share. Furthermore, this acquisition will immediately enhance Alternus’ shareholder equity by approximately $3 million.
Alternus Clean Energy is a US based clean energy independent power producer. It works towards developing, installing, owning, and operating utility-scale solar parks across US and Europe. The company aims to achieve 3 GW of operational projects within the next five years.
