Alzamend Neuro stockholders approve $6 million Series B transaction with Ault Lending

Alzamend Neuro, Inc.

Stockholders approved issuance of up to 6,000 shares of Series B convertible preferred stock and warrants for 6,000,000 common shares at $6 million total.
Proposal passed with 2,787,961 votes for, 208,270 against, and 49,368 abstentions at the May 13, 2024 adjourned annual meeting.
The transaction is with Ault Lending, LLC per Securities Purchase Agreement dated January 31, 2024.
The approval allows compliance with Nasdaq Listing Rule 5635 for the Series B Transaction.

Key facts

Extracted from this filing and checked against the source text.

Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

Alzamend Neuro, Inc. shareholders approved Approval of issuance of additional shares of Common Stock upon conversion of Series B Preferred Stock and exercise of warrants pursuant to Securities Purchase Agreement with Ault Lending, LLC to comply with Nasdaq Listing Rule 5635 at the 2024-05-13 meeting.

Outcome: passed
Meeting: 2024-05-13

Exact text from the filing

Proposal Three : Approval, for purposes of complying with Listing Rule 5635 of The Nasdaq Stock Market, LLC, the issuance by the Company of additional shares of Common Stock issuable upon the (i) conversion of up to 6,000 shares of Series B Preferred Stock and (ii) exercise of warrants to purchase up to 6,000,000 shares of Common Stock, for a total purchase price of up to $6,000,000.00, pursuant to the Securities Purchase Agreement dated January 31, 2024 with Ault Lending, LLC. For Against Abstain Broker Non-Votes 2,787,961 208,270 49,368

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Source: SEC EDGAR

accession 0001214659-24-008914

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