secwatch.observer — SEC 8-K summary
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Issuer:     Alzamend Neuro, Inc. (ALZN)
CIK:        0001677077
Form:       8-K
Filed at:   2025-02-28T23:59:59+00:00
Accession:  0001214659-25-003658
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677077/000121465925003658/0001214659-25-003658-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677077/000121465925003658/z2272508k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-25-003658

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