Ault Life Sciences Launches $100 Million 506(c) and Regulation S Offering

Seeks to Raise Capital to Fund Advances in Potential Treatments for Alzheimer’s and Other Neurodegenerative Diseases

NEWPORT BEACH, Calif., May 07, 2020 (GLOBE NEWSWIRE) —  Ault Life Sciences, Inc. (“ALSI” or the “Company”), a Delaware corporation, announced that it is seeking to raise up to $100 million through an offering to be conducted pursuant to Rule 506(c) of Regulation D and/or Regulation S promulgated under the Securities Act (the “Offering”) of Series B Convertible Preferred stock and warrants to purchase common stock.

ALSI is offering, through a Confidential Private Placement Memorandum, a maximum of fifty thousand (50,000) units (the “Units”), with each such Unit consisting of: (i) one thousand (1,000) shares of the Company’s Series B Convertible Preferred Stock, par value $0.0001 per share (the “Preferred Shares”) and a stated value of $2.00 per such share, and (ii) one thousand (1,000) warrants (the “Warrants”), each of which will entitle its holder to purchase one (1) share (a “Warrant Share”) of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”). The Warrants will be exercisable at an exercise price of $5.00 per Warrant Share. Each Unit will be sold at a price of $2,000.00 per Unit. The Preferred Shares are convertible into shares of Common Stock at a conversion price of $2.00 per share, subject to adjustment, and subject to automatic conversion upon the occurrence of certain events. The minimum number of Units to be purchased is Ten (10) Units for a minimum purchase price of $20,000. All investors in the Offering must be “accredited investors” as defined under Rule 501 of Regulation D or must not be a “U.S. Person” as defined by Regulation S under the Securities Act and meet other suitability standards. Accredited investors will be required to verify their accredited status in compliance with Rule 506(c).

A portion of the proceeds from the Offering will be used to fund Alzamend Neuro, a biotechnology company dedicated to researching, developing and commercializing preventions, treatments and cures for Alzheimer’s disease. Alzamend Neuro is working on two patented therapeutics licensed from the University of South Florida, as follows:

AL001: an ionic cocrystal of lithium that may reduce agitation, arrest cognitive decline and slow the progression of Alzheimer’s disease without the toxic side effects of traditional lithium treatments.

AL002: a cell-based therapeutic vaccine using a mutant-peptide sensitized cell treatment that seeks to restore the ability of the patient’s immunological system to combat Alzheimer’s disease.

ALSI’s CEO and Chairman, Milton “Todd” Ault, III, said, “In my 30 years on Wall Street, I have come to understand the risks and rewards associated with investing in innovative life science companies. Having benefited from numerous successful transactions in this sector, I have now created a new venture, Ault Life Sciences. This was done to both support a promising new company, Alzamend Neuro, in advancing two treatments for Alzheimer’s disease and to uncover additional promising companies and technologies with a focus on treating neurodegenerative diseases. Our leadership team and network of scientific experts are in position as we look to capture the tremendous upside potential of the life sciences sector.”

Additional information regarding the Offering is available exclusively from Ault Life Sciences by emailing  info@aultlifesciences.com or by calling (800) 959-7966.

This press release is not a solicitation or offer to buy or sell securities. Investments may be speculative, illiquid and carry a risk of loss. Past performance is not indicative of future results. There is no guarantee that any specific outcome will be achieved.

About Ault Life Sciences, Inc.

Ault Life Sciences, Inc. is a private Delaware corporation that presently holds securities of Alzamend Neuro, Inc., a Delaware corporation, and intends to acquire equity positions in additional life science companies, both independently and from Ault & Company, Inc., the Company’s parent company, with the goal of advancing treatments, vaccines or cures for an array of neurodegenerative diseases or psychiatric disorders.

For additional information, please visit https://www.aultlifesciences.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors.

Contacts: info@aultlifesciences.com or call (800) 959-7966

Ault Life Sciences™ Presents the Todd Ault #KOalz Podcast Interview with Dr. Thomas Wisniewski

Renowned Neuropathologist Cites Promising New Formulation of Lithium May Be a Safer Alternative for Treatment of Alzheimer’s disease and Dementia

NEWPORT BEACH, Cal., May 01, 2020 (GLOBE NEWSWIRE) — Ault Life Sciences™, Inc. (“ALSI” or the “Company”), a Delaware corporation, invites everyone interested in Alzheimer’s disease to watch an eye-opening interview on the #KOalz podcast show with Dr. Thomas Wisniewski, the Clinical Director of the Pearl I. Barlow Center for Memory Evaluation and Treatment, use this link. Dr. Wisniewski, a renowned neurologist and neuropathologist discusses AL001 (“LiProSal®”), a new formulation of Lithium that holds a strong promise to be a safer form of Lithium treatment for patients diagnosed with Alzheimer’s disease and other forms of dementia, when compared to current standard Lithium treatments. AL001 is a patented ionic cocrystal of Lithium licensed by Alzamend Neuro®, Inc. from the University of South Florida, that is currently in the IND process with the FDA and expected to enter human clinical trials in fourth quarter of 2020.

Milton “Todd” Ault, III, CEO and Chairman of ALSI, stated, “I had a wonderful interview with one of the foremost experts in Alzheimer’s. His family heritage is well known within the Alzheimer’s community as well with those in the neuropathology space. Dr. Wisniewski is highly acclaimed as a clinician and highly regarded among his peers for his leadership and experience. He’s on the Advisory Board of Alzamend® and I can’t wait until you hear what he has to say about our drug. This is an amazing interview.” Ault concluded, “If you care about Alzheimer’s like I do; my father has it, my mother-in-law died from it and my grandparents died from it , you should not miss this interview, and we request that you pass this interview along to everybody you know who cares about Alzheimer’s.”

This show is the first in a series of tagged line #KOalz podcasts hosted by Milton “Todd” Ault, III to build awareness for the pervasive and unmet need to find a treatment or cure for Alzheimer’s disease in the U.S. and worldwide. Currently, it is projected that over 46 million American adults that are undiagnosed yet may be afflicted with Alzheimer’s disease or dementia in their lifetime, according to a study by the NIH and the Alzheimer’s Association. Mr. Ault is the founder and Chairman of Alzamend Neuro®, Inc. and is dedicated to spearhead the #KOalz campaign based on his devastating daily personal family experience and loss from Alzheimer’s disease.

Dr. Wisniewski has been awarded as a Gerald J. and Dorothy R. Friedman Professor of the New York University (“NYU”) Alzheimer’s Disease Center that is located at the NYU Langone’s Center for Cognitive Neurology. The NYU Langone Center is one of 30 Alzheimer’s disease research centers in the US designated and supported by the National Institute on Aging (NIA of NIH) and has received continuous funding from the NIH for over 30 years. Dr. Wisniewski is a Professor of Neurology, Pathology and Psychiatry at the NYU School of Medicine, has over 28 U.S. patents and over 400 peer-reviewed publications.

Alzamend Neuro® is a biopharma company headquartered in Tampa, Florida with an office in Newport Beach, California. The mission of Alzamend Neuro® is to research, develop and commercialize preventions, treatments and cures for Alzheimer’s disease and provide hope through the commercialization of existing patented intellectual property while simultaneously funding future treatments through advanced research and development. Alzamend Neuro’s® goal is to get a treatment or cure for Alzheimer’s to market at a reasonable cost as quickly as possible.

About Ault Life Sciences, Inc.

Ault Life Sciences™, Inc. is a private Delaware corporation that presently holds securities of Alzamend Neuro®, Inc., a Delaware corporation, and intends to acquire equity positions in additional life science companies, both independently and from Ault & Company™, Inc., the Company’s parent company, with the goal of advancing treatments, vaccines or cures for an array of neurodegenerative diseases or psychiatric disorders. For additional information, please visit https://www.AultLifeSciences.com or send an email to info@AultLifeSciences.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar
expressions. Statements that are not historical facts are forward-looking statements.

Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or
future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors.


Contacts:
Info@AultLifeSciences.com or call (800) 959-7966

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