secwatch.observer — SEC 8-K summary
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Issuer:     Alzamend Neuro, Inc. (ALZN)
CIK:        0001677077
Form:       8-K/A
Filed at:   2024-05-10T23:59:59+00:00
Accession:  0001214659-24-008833
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 3.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Alzamend Neuro raises up to $25M via Series A Preferred and warrants; initial $500K closed
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- Up to $25 million financing via Series A Convertible Preferred Stock and warrants; initial tranche of $500,000 closed May 10, 2024.
- Series A Preferred: $10,000 stated value per share, 15% cumulative annual dividend payable quarterly in cash or shares at investor’s option.
- Conversion price is the greater of $0.25 floor or the lesser of $1.50 and 80% of the 3-day VWAP; anti-dilution adjustment applies.
- Warrants: exercise price $1.25, 5-year term; 800,000 warrant shares issued in initial tranche. Exercise price adjustable for stock splits.
- Stockholder approval required for any conversion/warrant exercise exceeding 19.99% of outstanding common shares; proxy statement to be filed.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924008833/0001214659-24-008833-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677077/000121465924008833/x592418ka1.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-008833

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