Brief: Alternus Announces Revised Proposed Business Combination With Clean Earth

Alternus Energy

19/04/2023 07:08

April 19 (Reuters) - Alternus Energy Group PLC
 ALTA.OL :
    * ALTERNUS ENERGY GROUP PLC ANNOUNCES REVISED PROPOSED
BUSINESS
COMBINATION WITH CLEAN EARTH ACQUISITIONS CORP. IN PREPARATION
FOR Q2 2023 CLOSING
    * WILL NOW RECEIVE, SUBJECT TO ANY WORKING CAPITAL
ADJUSTMENTS,
27.5 MILLION SHARES OF CLEAN EARTH
    * EQUITY VALUATION OF $275 MILLION
    * AMENDMENT SPECIFIES THAT ALTERNUS CAN EARN UP TO 20
MILLION
ADDITIONAL SHARES OF CLEAN EARTH
    * AMENDMENT SPECIFIES NEW EBITDA TARGETS OF $16 MILLION, $52
MILLION, AND $156 MILLION IN 2023, 2024, AND 2025 RESPECTIVELY

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