---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-24-001777"
form_type: "8-K"
ticker: "ALZN"
cik: "0001677077"
company_name: "Alzamend Neuro, Inc."
filed_at: "2024-02-02T23:59:59+00:00"
generated_at: "2026-06-06T09:57:51.700163+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Alzamend Neuro raises up to $6M from affiliate, receives Nasdaq bid price deficiency notice

## Summary
- Entered up to $6M Series A convertible preferred stock sale to affiliate Ault Lending; initial $1.22M closed via cancellation of prior advances.
- Each preferred share ($1,000 stated value) convertible into common at $1.00/share; warrants exercisable at $1.20/share after 6 months, 5-year term.
- Nasdaq deficiency notice: common stock bid price below $1.00 for 30 consecutive days; must regain compliance by July 30, 2024.
- Company intends to monitor bid price and may evaluate options including reverse stock split; stock continues trading under 'ALZN'.

## SEC filing metadata
- accession: 0001214659-24-001777
- form_type: 8-K
- ticker: ALZN
- cik: 0001677077
- company_name: Alzamend Neuro, Inc.
- filed_at: 2024-02-02T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.01, 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/0001214659-24-001777-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/o212438k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-24-001777
- JSON: https://secwatch.observer/filing/0001214659-24-001777.json
- Plain text: https://secwatch.observer/filing/0001214659-24-001777.txt

## Key facts
- Listing & Compliance Notices
  Alzamend Neuro, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2), 5810(c)(3)(A)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: minimum bid price
  - Rules: 5550(a)(2), 5810(c)(3)(A)
  source text: February 1, 2024, the Company received a notice in the form of a letter (“ Deficiency Letter ”) from the Listing Qualifications Staff of the Nasdaq stating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) because the bid price for the Common Stock had closed below $1.00 per share for the previous 30 consecutive business days. In accordance with Nasdaq listing rule 5810(c)(3)(A), the Company has 180 calendar days, or until July 30, 2024, to regain compliance. The Deficiency Letter states that to regain compliance, the bid price for the Common Stock must close at $1.00
  evidence_url: https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/0001214659-24-001777-index.htm
- Governance Changes
  Alzamend Neuro, Inc.: Filed Series A Certificate of Designation for Series A Convertible Preferred Stock (effective 2024-01-31).
  - Change: charter amendment
  - Effective: 2024-01-31
  source text: On January 31, 2024, in connection with the Agreement and the Initial Closing , the Company filed the Series A Certificate of Designation with the Secretary of State of the State of Delaware.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/0001214659-24-001777-index.htm
- Material Agreements
  Alzamend Neuro, Inc. entered into Securities Purchase Agreement with Ault Lending, LLC valued at $6 million (effective 2024-01-31).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Ault Lending, LLC
  - Value: $6 million
  - Effective: 2024-01-31
  source text: On January 31, 2024 (the “ Execution Date ”), Alzamend Neuro, Inc., a Delaware corporation (the “ Company ”) entered into a Securities Purchase Agreement (the “ Agreement ”) with Ault Lending, LLC, a California limited liability company (the “ Purchaser ”), pursuant to which the Company agreed to sell to the Purchaser up to 6,000 shares of Series A convertible preferred stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/0001214659-24-001777-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.