Milton C. Ault III - Jun 15, 2021 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

Role
10%+ Owner
Signature
/s/ Milton C. Ault, III
Stock symbol
ALZN
Transactions as of
Jun 15, 2021
Transactions value $
$10,000,000
Form type
4
Date filed
6/17/2021, 04:31 PM
Previous filing
Jun 14, 2021
Next filing
Jun 22, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ALZN Common Stock Purchase $10M +2M +64.63% $5.00* 5.09M Jun 15, 2021 By Digital Power Lending, LLC F1
transaction ALZN Common Stock Conversion of derivative security $0 +15M $0.00 15M Jun 17, 2021 By Ault Life Sciences, Inc. F2
holding ALZN Common Stock 10M Jun 15, 2021 By Ault Life Sciences Fund, LLC F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ALZN Series A Convertible Preferred Stock Conversion of derivative security -750K -100% 0 Jun 17, 2021 Common Stock 15M By Ault Life Sciences, Inc. F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Digital Power Lending, LLC ("DPL") is a wholly-owned subsidiary of Ault Global Holdings, Inc. ("AGH"). Mr. Ault, the Executive Chairman of AGH, is deemed to have voting and investment power with respect to the securities held of record by DPL.
F2 The 15,000,000 shares of Common Stock were issued to Ault Life Sciences, Inc. ("ALS") upon the conversion of the 750,000 shares of the Issuer's Series A Convertible Preferred Stock (the "Series A Preferred Stock") owned by ALS, which conversion occurred automatically upon the closing of the Issuer's initial public offering without payment of further consideration. Mr. Ault has sole voting and investment power with respect to the shares of Series A Preferred Stock held of record by ALS.
F3 Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC.