Alzamend Neuro, Inc. (ALZN) Form 8-K — Aug 3, 2026
Alzamend Neuro, Inc. entered into a Securities Purchase Agreement with affiliate Ault Lending, LLC to sell up to $25 million of Series D Convertible Preferred Stock, closing an initial tranche of $7.5 million on July 31, 2026. The preferred shares are convertible into common stock at a price floor of $0.2668 or 80% of the lowest VWAP in the five trading days prior to conversion, subject to a maximum price of $2.00 per share. The company agreed to file a registration statement for the resale of the underlying common shares by August 15, 2026, subject to penalties for delays.
Key figures
- Floor Price
- $0.2668
- Origination Fee
- 2%
- Conversion Discount
- 80% of VWAP
- Maximum Conversion Price
- $2.00
- Total Financing Commitment
- $25,000,000
- Preferred Shares Stated Value
- $1,050
- Initial Tranche Gross Proceeds
- $7,500,000
Price after filing
Close on the filing date to close N calendar days later (from $1.34). Historical, not a forecast.
AI analysis
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