Alzheon, Inc. announced that it will issue 797,388 series E preferred shares of par value $0.001 per share at an issue price of $62.71 per share for the gross proceeds of $50,004,201.48 on November 30, 2022. The company has entered into series E preferred stock purchase agreement in the transaction. The shares will be convertible in common shares at a fixed conversion price of $62.71 per share.

The round will be raised at post money valuation of $1,289,141,698. The company will issue securities pursuant to exemption provided under Regulation D.