Milton C. Ault III - 26 Apr 2022 Form 4 Insider Report for Alzamend Neuro, Inc. (ALZN)

Role
10%+ Owner
Signature
/s/ Milton C. Ault, III
Issuer symbol
ALZN
Transactions as of
26 Apr 2022
Net transactions value
+$4,000,000
Form type
4
Filing time
28 Apr 2022, 17:01:26 UTC
Previous filing
25 Apr 2022
Next filing
06 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ALZN Common Stock Purchase $4,000,000 +2,666,667 +38% $1.50 9,666,667 26 Apr 2022 By Digital Power Lending, LLC F1, F2
holding ALZN Common Stock 2,500,000 26 Apr 2022 Direct
holding ALZN Common Stock 225,000 26 Apr 2022 By Ault Alpha LP F3
holding ALZN Common Stock 14,942,984 26 Apr 2022 By Ault Life Sciences, Inc. F4
holding ALZN Common Stock 10,000,000 26 Apr 2022 By Ault Life Sciences Fund, LLC F5

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 Warrants Other $0 +1,333,333 $0.000000 1,333,333 26 Apr 2022 Common Stock 1,333,333 $3.00 By Digital Power Lending, LLC F1, F2, F6
holding ALZN Warrants 666,667 26 Apr 2022 Common Stock 666,667 $3.00 By Digital Power Lending, LLC F2, F6
holding ALZN Warrants 1,333,333 26 Apr 2022 Common Stock 1,333,333 $3.00 By Digital Power Lending, LLC F2, F6
holding ALZN Warrants 5,000,000 26 Apr 2022 Common Stock 5,000,000 $3.00 By Ault Life Sciences Fund, LLC F5
holding ALZN Warrants 16,667 26 Apr 2022 Common Stock 16,667 $3.00 By BitNile Holdings, Inc. F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with a securities purchase agreement dated March 9, 2021, the Issuer agreed to sell an aggregate of 6,666,667 shares of its common stock to Digital Power Lending, LLC, for an aggregate of Ten Million Dollars ($10,000,000) (the "Transaction"). In connection with the Transaction, on April 26, 2022, DPL received warrants to purchase 1,333,333 shares of common stock as additional consideration for purchase of 2,666,667 shares of common stock for $1.50 per share.
F2 Digital Power Lending, LLC ("DPL") is a wholly-owned subsidiary of BitNile Holdings, Inc. ("BH"). Mr. Ault, the Executive Chairman of BH, is deemed to have voting and investment power with respect to the securities held of record by DPL.
F3 Milton C. Ault, III, is the Manager of Ault Alpha GP LLC ("Ault GP") and Ault Capital Management LLC ("AC Management"). Ault GP and AC Management are the general partner and investment manager to Ault Alpha LP, respectively. As such, Mr. Ault is deemed to beneficially own the shares held by Ault Alpha LP.
F4 Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences, Inc.
F5 Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC.
F6 The warrant may be exercised by the Holder on any day on or after the date of issuance, subject to beneficial ownership blocker provisions contained therein.
F7 Mr. Ault serves as Executive Chairman of BH and is deemed to have voting and investment power with respect to the securities held of record by BH.