Alternus Energy Lives
I thought I had suffered a 100% loss on my investment and I contacted the company via Twitter and email and here is their response:
Thanks for getting in touch here directly with the company.
The reason for the reverse merger was to allow the company, now called Alternus Energy Group PLC to transition from the US OTC to the Norwegian OTC. The delisting of the US company in order to make this transition was fully evaluated and approved by FINRA. The Company has also recently raised €110M in Green Bonds and matching €27M equity raise as part of the listing in Oslo. These funds will be used to acquire a portfolio of 109MW, in addition, to refinance the 30MW portfolio we currently own.
The company has now successfully listed on the Norwegian OTC since last Monday 11th January. Our ticker is ALT. Since listing in Oslo the current share price is above the last listing price on the US OTC which is a good result for existing shareholders. https://www.notc.no/eng
The reason why we have not issued a shareholder update as yet is that we are still working through the process of how to get the existing shareholders transferred to the NOTC, this is all underway. Please rest assured that we are addressing this as fast as possible with the various brokers to enable the transition.
Please keep an eye on our website for further updates: www.alternusenergy.com
If you have any further queries please do not hesitate to get in touch here.
Alternus Energy Group PLC