BofA warns Fed risks policy mistake with early rate cuts
Alpha Modus Holdings, Inc. (NASDAQ:AMOD) announced Thursday that it has entered into an exchange agreement with The Alessi 2023 Irrevocable Trust, a family trust of the company’s Chief Executive Officer, William Alessi. The agreement was executed on August 14.
According to the company’s statement, the trust will exchange 4,300,000 shares of Series C Preferred Stock for 40,111,940 shares of Class A common stock. The shares of Series C Preferred Stock are held by the trust and are considered beneficially owned by Mr. Alessi, whose spouse is the trustee.
As part of the agreement, the trust has agreed not to sell or transfer the newly issued Class A common stock until June 13, 2026, except for permitted transfers to an affiliate.
The issuance of the Class A common stock will be made without registration under the Securities Act of 1933, relying on the exemption provided by Section 3(a)(9). The company stated that the exchange involves no additional consideration and that no remuneration was paid for the solicitation of the exchange.
Alpha Modus Holdings’ Class A common stock and redeemable warrants trade on the Nasdaq Stock Market under the symbols NASDAQ:AMOD and NASDAQ:AMODW, respectively.
This information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, Alpha Modus Holdings Inc. announced it has fully resolved and extinguished all variable rate debt associated with its DESPAC process. This development marks the end of a six-month strategic initiative aimed at preserving the company’s capital structure. Additionally, Alpha Modus has secured exclusive nationwide licensing rights to deploy and monetize CashX kiosks and mobile applications across the United States. This agreement positions Alpha Modus as the sole fulfillment provider for CashX’s existing and future U.S. contracts.
In a move to support growth initiatives, a family trust affiliated with Alpha Modus’s CEO has committed to a $1.5 million financing arrangement. The funding will be structured as a one-year promissory note with an option to convert the debt into common stock at $5 per share. Furthermore, Alpha Modus has amended its CFO’s employment contract, increasing his compensation package to include both cash and stock options. The company also announced its transfer of securities listing to the Nasdaq Capital Market, effective July 14, 2025, bringing it into full compliance with Nasdaq’s listing requirements.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.