Alzamend Neuro Announces Initial Closing of Securities Purchase Agreement with Ault Lending
Alzamend Neuro closed an initial $7.5 million tranche of a Series D Convertible Preferred Stock purchase agreement with Ault Lending, totaling a potential $25 million commitment. The deal provides for a second tranche of $2.5 million and $15 million in monthly installments over 15 months to fund clinical trials for AL001 and ALZN002.
Key figures
- Deal Value Usd
- 25000000
- Offering Price
- 1000
- Shares Offered
- 25000
- Second tranche usd
- 2500000
- Initial tranche usd
- 7500000
- Stated value per share
- 1050
- Origination fee percent
- 2
AI analysis
Red flags2 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.