NEWPORT BEACH, Calif., Might 07, 2020 (GLOBE NEWSWIRE) — Ault Life Sciences, Inc. (“ALSI” or the “Firm”), a Delaware company, introduced that it’s in search of to boost as much as $100 million via an providing to be performed pursuant to Rule 506(c) of Regulation D and/or Regulation S promulgated underneath the Securities Act (the “Providing”) of Collection B Convertible Most well-liked inventory and warrants to buy frequent inventory.
ALSI is providing, via a Confidential Non-public Placement Memorandum, a most of fifty thousand (50,000) items (the “Items”), with every such Unit consisting of: (i) one thousand (1,000) shares of the Firm’s Collection B Convertible Most well-liked Inventory, par worth $0.0001 per share (the “Most well-liked Shares”) and a acknowledged worth of $2.00 per such share, and (ii) one thousand (1,000) warrants (the “Warrants”), every of which can entitle its holder to buy one (1) share (a “Warrant Share”) of the Firm’s Class A typical inventory, par worth $0.0001 per share (the “Widespread Inventory”). The Warrants can be exercisable at an train worth of $5.00 per Warrant Share. Every Unit can be offered at a worth of $2,000.00 per Unit. The Most well-liked Shares are convertible into shares of Widespread Inventory at a conversion worth of $2.00 per share, topic to adjustment, and topic to computerized conversion upon the prevalence of sure occasions. The minimal variety of Items to be bought is Ten (10) Items for a minimal buy worth of $20,000. All buyers within the Providing should be “accredited buyers” as outlined underneath Rule 501 of Regulation D or should not be a “U.S. Particular person” as outlined by Regulation S underneath the Securities Act and meet different suitability requirements. Accredited buyers can be required to confirm their accredited standing in compliance with Rule 506(c).
A portion of the proceeds from the Providing can be used to fund Alzamend Neuro, a biotechnology firm devoted to researching, creating and commercializing preventions, remedies and cures for Alzheimer’s illness. Alzamend Neuro is engaged on two patented therapeutics licensed from the College of South Florida, as follows:
AL001: an ionic cocrystal of lithium that will cut back agitation, arrest cognitive decline and sluggish the development of Alzheimer’s illness with out the poisonous negative effects of conventional lithium remedies.
AL002: a cell-based therapeutic vaccine utilizing a mutant-peptide sensitized cell remedy that seeks to revive the flexibility of the affected person’s immunological system to fight Alzheimer’s illness.
ALSI’s CEO and Chairman, Milton “Todd” Ault, III, stated, “In my 30 years on Wall Avenue, I’ve come to know the dangers and rewards related to investing in revolutionary life science corporations. Having benefited from quite a few profitable transactions on this sector, I’ve now created a brand new enterprise, Ault Life Sciences. This was performed to each help a promising new firm, Alzamend Neuro, in advancing two remedies for Alzheimer’s illness and to uncover further promising corporations and applied sciences with a deal with treating neurodegenerative ailments. Our management staff and community of scientific specialists are in place as we glance to seize the large upside potential of the life sciences sector.”
Extra data relating to the Providing is accessible solely from Ault Life Sciences by emailing firstname.lastname@example.org or by calling (800) 959-7966.
This press launch isn’t a solicitation or supply to purchase or promote securities. Investments could also be speculative, illiquid and carry a threat of loss. Previous efficiency isn’t indicative of future outcomes. There isn’t any assure that any particular consequence can be achieved.
About Ault Life Sciences, Inc.
Ault Life Sciences, Inc. is a personal Delaware company that presently holds securities of Alzamend Neuro, Inc., a Delaware company, and intends to amass fairness positions in further life science corporations, each independently and from Ault & Firm, Inc., the Firm’s guardian firm, with the purpose of advancing remedies, vaccines or cures for an array of neurodegenerative ailments or psychiatric problems.
For added data, please go to https://www.aultlifesciences.com.
This press launch incorporates “ahead trying statements” throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended. These forward-looking statements usually embody statements which might be predictive in nature and depend on or consult with future occasions or circumstances, and embody phrases comparable to “believes,” “plans,” “anticipates,” “tasks,” “estimates,” “expects,” “intends,” “technique,” “future,” “alternative,” “might,” “will,” “ought to,” “might,” “potential,” or related expressions. Statements that aren’t historic information are forward-looking statements. Ahead-looking statements are primarily based on present beliefs and assumptions which might be topic to dangers and uncertainties. Ahead-looking statements converse solely as of the date they’re made, and the Firm undertakes no obligation to replace any of them publicly in mild of latest data or future occasions. Precise outcomes might differ materially from these contained in any forward-looking assertion because of varied components.
Contacts: email@example.com or name (800) 959-7966