ALZN insider Milton Ault converts Series B and reports multi‑day sales
Rhea-AI Filing Summary
Milton C. Ault III, a director of Alzamend Neuro, Inc. (ALZN), reported multiple transactions in early October 2025. On 10/01/2025 he converted Series B convertible preferred shares into 100,000 shares of common stock at a conversion price of $2.32. On 10/01–10/03/2025 he sold common shares in open-market transactions: 36,777 shares on 10/01 at a VWAP of $2.3487, 20,686 shares on 10/02 at $2.394, and 65,903 shares on 10/03 at a VWAP of $2.4413, totaling 123,366 shares sold.
The Form 4 lists changing beneficial ownership figures tied to Ault-controlled entities: following the conversion Ault Lending is reported with 131,626 shares beneficially owned, which moved to 94,849, then 74,163, and then 8,260 after the sales. Additional holdings are shown for Ault Life Sciences, Inc. (11,068) and Ault Life Sciences Fund, LLC (61), with voting and investment power described in the filing.
Positive
- Conversion of Series B into 100,000 common shares at $2.32 is transparently disclosed
Negative
- Insider sales totaled 123,366 shares across 10/01–10/03/2025, reducing Ault Lending's beneficial holdings to 8,260
- Sales were sizeable and executed over multiple days, with VWAPs disclosed (e.g., $2.3487, $2.394, $2.4413)
Insights
Insider converted preferred into common then sold a material block across three days.
The filing documents a Series B conversion into 100,000 common shares on 10/01/2025, followed by open-market sales totaling 123,366 shares across 10/01–10/03/2025. The filing explicitly identifies Ault Lending, Ault Life Sciences, and Ault Life Sciences Fund as record holders for which Mr. Ault has voting and investment power.
This matters because Form 4 disclosures show changes in insider ownership and potential supply added to the market; the filing gives VWAPs and price ranges for the sales and offers to provide detailed per-price sale information to the SEC on request.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 65,903 | $2.4413 | $161K |
| Sale | Common Stock | 20,686 | $2.394 | $50K |
| Conversion | Series B Convertible Preferred Stock | 232 | $1,000.00 | $232K |
| Conversion | Common Stock | 100,000 | $2.32 | $232K |
| Sale | Common Stock | 36,777 | $2.3487 | $86K |
| holding | Common Stock Purchase Warrants | -- | -- | -- |
| holding | Common Stock Purchase Warrants | -- | -- | -- |
| holding | Common Stock Purchase Warrants | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Represents shares of common stock received upon conversion of Series B convertible preferred stock ("Series B Preferred"). Ault Lending, LLC ("Ault Lending"), is a wholly-owned subsidiary of Hyperscale Data, Inc. ("HSD"). Milton C. Ault, III, the Executive Chairman of HSD, is deemed to have voting and investment power with respect to the securities held of record by Ault Lending. The common stock was sold by the reporting person in open market transactions on the transaction date, with a volume weighted average sale price of $2.3487. The range of sales prices on the transaction date was $2.317 to $2.4038 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. The common stock was sold by the reporting person in open market transactions on the transaction date, with a volume weighted average sale price of $2.4413. The range of sales prices on the transaction date was $2.4409 to $2.467 per share. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each price. Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences, Inc. Mr. Ault has sole voting and investment power with respect to the securities held of record by Ault Life Sciences Fund, LLC. The Conversion Price of the Series B Preferred is subject to adjustment as set forth in that certain Designation of Preferences, Rights and Limitations of the Series B Convertible Voting Preferred Stock. The shares of Series B Preferred have no expiration date.
