Alzamend Neuro sells 7,500 Series D preferred shares for $7.5 million in private placement

• Alzamend Neuro entered a securities purchase agreement on July 31, 2026 to sell up to $25 million of Series D convertible preferred stock to Ault Lending.
• Initial tranche closed with 7,500 preferred shares sold for USD 7.5 million in cash; Ault Lending is an affiliate.
• Second tranche calls for an additional USD 2.5 million; purchaser can buy up to USD 15 million more in later closings.
• Company must seek stockholder approval for conversion shares above Nasdaq’s 19.99% issuance cap; special meeting due within 75 days.
• Registration delays can trigger cash damages of 2% monthly of stated value, capped at 15% in aggregate.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Alzamend Neuro Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001214659-26-009469), on August 03, 2026, and is solely responsible for the information contained therein.