ALZN - Alzamend Neuro pops 5% on additional investment by Digital Power Lending

Ault Global Holdings' (NYSE:DPW) wholly owned subsidiary, Digital Power Lending (DPL) has made an additional investment in Alzamend Neuro (NASDAQ:ALZN). ALZN shares up 4.7% premarket at $4.50. On July 28, 2021, Alzamend received a “study may proceed” letter from the FDA for a Phase 1a study under its IND application for AL001, a lithium-based ionic cocrystal oral therapy for patients with dementia related to mild, moderate, and severe cognitive impairment associated with Alzheimer’s disease (AD). Based on the achievement of this milestone, under the March 2021 securities purchase agreement, Alzamend sold an additional ~1.3M common shares to DPL for $2M, or $1.50/share, and issued to DPL warrants to acquire ~666.7K Alzamend's common shares with an exercise price of $3.00/share.

For further details see:

Alzamend Neuro pops 5% on additional investment by Digital Power Lending