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

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