Alzamend Neuro signs $5M financing with Orchid Finance; exchanges Series A pref for Series C with warrants

Alzamend Neuro, Inc.

Exchanges 97.75 Series A shares for 87.99 Series C shares; cancels existing 640K-share warrants.
Issues up to 500 Series C shares at $9,500 each for total gross proceeds of $5M (net $4.75M after 5% discount).
Series C carries 15% cumulative quarterly dividend, convertible at formula with $0.10 floor; warrants for 1M shares at $0.92125.
Tranche closings through Oct 2025; second tranche of 75 shares ($725K) due Apr 29 or 15 days post- registration effectiveness.
Stockholder approval required for issuances exceeding 19.99% of outstanding; ROFR and participation rights for investor after $712.5K funded.

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