Alzamend Neuro executed deal to provide sufficient capital for 18 months

” We raised capital through an at-the-market sales agreement in the fourth quarter of 2023 through the first quarter of 2024, which we strategically utilized from time to time with a goal of not disrupting the market. We also entered into two separate securities purchase agreements in 2024. The first one with an entity associated with our founder and largest stockholder, pursuant to which we have received $2.1M in gross proceeds to date, and which the investor has the right to purchase up to an additional $3.9M of securities through March 31, 2025. The second agreement with an outside investor, pursuant to which we have received $7M in gross proceeds to date. Under the second agreement, the investor is obligated to purchase, subject to certain conditions, up to an additional $18M of securities through January 2026. Please see our Securities and Exchange Commission filings for additional information regarding the securities purchase agreements described above and the terms of such financing transactions,” said the company’s management.