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

What Happened
Hyperscale Data, Inc. — reported as a director-by-deputization of Alzamend Neuro, Inc. (ALZN) — received a grant/award of 7,500 shares of Series D Convertible Preferred Stock on July 31, 2026. The filing reports the grant at $1,000.00 per share for a reported aggregate value of $7,500,000. This is an acquisition of a derivative security (preferred stock convertible into common shares), not a sale.

Key Details

• Transaction date: 2026-07-31 (reported in an amended Form 4 filed 2026-08-20).
• Security: Series D Convertible Preferred Stock (derivative, no expiration).
• Amount: 7,500 shares at $1,000.00 per share — aggregate reported value $7,500,000.
• Shares owned after transaction: not disclosed in this filing.
• Conversion detail (footnotes): each preferred has a stated value of $1,050.00 and is convertible into common stock; as of Aug 4, 2026 the conversion price was $1.016 per share, implying ~1,033.5 common shares per preferred share. Conversion price is adjustable for stock events.
• Reporting/filing note: This is an AMENDED filing to add Ault Lending LLC and Ault Capital Group, Inc. as reporting persons (they had no EDGAR codes at the time of the original filing). Mr. Ault (Executive Chairman of Hyperscale Data) separately reports his holdings on Section 16 filings.

Context

• This was a grant/acquisition of preferred stock (code A) — a non-sale event often used for compensation or investment by related parties; it’s a derivative that can be converted into common shares per the stated conversion mechanics.
• The amendment only expands which entities are identified as reporting persons; it does not change the underlying transaction details already disclosed by Mr. Ault.
• No indication in this filing of an immediate conversion or sale of underlying common shares.