Clean Earth Acquisitions Cuts Alternus Deal Valuation in Half

Clean Earth Acquisitions in an 8-K said it has lowered the deal value of its proposed merger with Alternus to $275 million — down from the initial $550 million announced in October. The SPAC also reduced earnout shares to 20 million from the original 35 million shares and tweaked the milestones for the earnouts.

Clean Earth said 1 million shares will be held in reserve for -closing working capital adjustments.

If the deal is approved, the combined company will be renamed Alternus . Alternus shares will continue to trade on the Euronext Growth market in Oslo, while Clean Earth's common stock is expected to continue listing on the .

Clean Earth raised $200 million in a February .

Based in Ireland, Alternus is an international vertically integrated independent power producer. Read more.


Source: Clean Earth Acquisitions Cuts Alternus Deal Valuation in Half