Alzheon, Inc. announced that it will issue 1,388,889 series D preferred shares at issue price of $36 per share for the gross proceeds $50,000,004 on September 14, 2020. The shares will be convertible in common shares at a fixed price of $36 per share. The round will be raised at post money valuation of $697,842,252.

The company will issue securities pursuant to exemption provided under Regulation D. The company intends to continue the transaction for more than one year.