Alzamend Neuro (ALZN) Hyperscale Data Director Receives $7.5M Award

What Happened Hyperscale Data, Inc. (reported as a director/deputized director for Alzamend Neuro) was granted 7,500 shares of Series D Convertible Preferred Stock on 2026-07-31. The filing shows an acquisition price/value of $1,000.00 per preferred share for a total reported value of $7,500,000. The award is a derivative security (Series D preferred) that can be converted into common stock under the terms described in the filing.

Key Details

• Transaction date: 2026-07-31; Form filed: 2026-08-04 (appears timely, within the required filing window).
• Security: 7,500 shares of Series D Convertible Preferred Stock (derivative award, transaction code A).
• Reported price/value: $1,000.00 per share; total $7,500,000.
• Conversion mechanics: Each preferred share is convertible into common stock at a conversion price equal to the greater of $0.2668 and 80% of the lowest closing bid in the prior 5 trading days, but not above $2.00. As of 2026-08-04 the conversion price was $1.016, so each preferred was convertible into ~1,033.5 common shares (7,500 pref. × ~1,033.5 ≈ 7,751,250 potential common shares).
• Other footnotes: Series D has no expiration date; conversion price subject to adjustment for future issuances, splits, dividends, etc.
• Reporting persons & deputization: Ault Lending, Ault Capital Group, Inc. and Hyperscale Data are linked by ownership; Mr. Ault (Executive Chairman of Hyperscale Data) is deemed to have voting/investment power and is a director of the issuer. The filing is made to identify those entities as reporting persons; Mr. Ault’s holdings are also separately reported on his own Section 16 filings.
• Shares owned after transaction: Not specified in this filing.

Context This was an award/grant of convertible preferred stock (a derivative), not a cash purchase or open-market sale. For retail investors, awards can reflect compensation arrangements or negotiated financings and do not by themselves indicate the director's buying or selling sentiment. If converted, the preferred shares could result in a very large issuance of common shares given the current conversion ratio — investors should watch for future conversion notices or dilution events and review related filings for further detail.