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Milton C. Ault III, a director and significant shareholder of Alzamend Neuro , Inc. (NASDAQ:ALZN), recently acquired additional shares of the company’s common stock. According to a filing with the Securities and Exchange Commission, Ault purchased 5,000 shares at a price of $0.962 per share on March 18, 2025. This transaction, valued at approximately $4,810, was conducted indirectly through Ault Lending, LLC, a wholly-owned subsidiary of Hyperscale Data, Inc., where Ault holds the position of Executive Chairman. The purchase comes as ALZN shares have shown a notable 34.66% gain over the past week, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Following this acquisition, Ault’s indirect ownership through Ault Lending, LLC increased to 82,368 shares. Additionally, he holds 16,686 shares directly and has indirect ownership of 99,619 shares through Ault Life Sciences, Inc., and 549 shares through Ault Life Sciences Fund, LLC. With a market capitalization of just $6.34 million, InvestingPro data shows the company maintains strong liquidity with a current ratio of 5.44, though its overall financial health score remains weak. Subscribers can access 12 additional ProTips and comprehensive financial metrics for deeper analysis.
In other recent news, Alzamend Neuro has made several notable announcements. The company reported a significant agreement for the sale and exchange of equity securities, potentially amounting to a total purchase price of up to $5 million, as disclosed in an SEC filing. This deal involves the exchange of Series A Convertible Preferred Stock for Series C Convertible Preferred Stock and the sale of additional Series C shares, accompanied by warrants to purchase common stock. The Series C Preferred Stock is valued at $10,000 per share and offers a 15% annual cash dividend, with conversion rights subject to specific conditions. Additionally, Alzamend Neuro has completed a specialized head coil for their upcoming Phase II clinical trials, aimed at comparing their product AL001 with traditional lithium carbonate. This development is part of their collaboration with Massachusetts General Hospital to study lithium distribution in the brain. The company has also amended its corporate bylaws, reducing the quorum requirement for stockholder meetings and introducing a new series of convertible preferred stock. These developments reflect Alzamend Neuro’s ongoing efforts to enhance financial flexibility and advance its clinical research.
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