This paper proposes a new hybrid converter as an alternative to alternate arm converter (AAC) and conventional mixed cell modular multilevel converter (MC-MMC). Although the proposed converter evolves from AAC, it resembles a version of the MC-MMC, where the entire low-voltage rated half-bridge (HB) cells in each arm are replaced by one high-voltage HB cell. Therefore, the proposed converter offers all the tributes of MC-MMC at footprint similar to that of AAC and reduced control complexity as the number of cell capacitor to be control is halved. The practical viability of the proposed converter is confirmed using simulations and experimentations.