secwatch.observer — SEC 8-K summary
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Issuer:     Alzamend Neuro, Inc. (ALZN)
CIK:        0001677077
Form:       8-K
Filed at:   2024-02-02T23:59:59+00:00
Accession:  0001214659-24-001777
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 1.01, 3.01, 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/0001214659-24-001777-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924001777/o212438k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-001777

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer