Alzamend Neuro sells 7,500 Series D preferred shares for $7.5 million in private placement
ALZN•Registration delay penalties
Registration delays can trigger cash damages of 2% monthly of stated value, capped at 15% in aggregate.
Private placement with Ault Lending
Alzamend Neuro entered a securities purchase agreement on July 31, 2026 to sell up to $25 million of Series D convertible preferred stock to Ault Lending.
The initial tranche closed with 7,500 preferred shares sold for $7.5 million in cash; Ault Lending is an affiliate.
Additional tranches and approval requirements
The second tranche calls for an additional $2.5 million. The purchaser can buy up to $15 million more in later closings.
The company must seek stockholder approval for conversion shares above Nasdaq’s 19.99% issuance cap. A special meeting is due within 75 days.
