Alpha Modus Holdings Inc (AMOD) News & EventsAMODAlpha Modus Holdings Inc

Alpha Modus Holdings to Purchase 6.3M Shares at $1.15 Each

Alpha Modus Holdings announced that it has entered into definitive agreements for the purchase of an aggregate of 6.3M shares of its common stock, at a purchase price of $1.15 per share in a registered direct offering. The closing of the offering is expected to occur on or about October 22, subject to the satisfaction of customary closing conditions. The aggregate gross proceeds to the company from the offering are expected to be approximately $7.25M, before deducting the placement agent fees and other offering expenses payable by the company. The company currently intends to use the net proceeds from the offering to repay certain of its indebtedness and for general corporate purposes. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

Alpha Modus Completes PIPE Transaction, Issues 51,621,560 Shares

As disclosed in the Current Report on Form 8-K filed on August 27, by Alpha Modus Holdings, on August 26, the Company entered into a securities purchase agreement with the non-U.S. investors named therein, pursuant to which the Company agreed to issue and sell to the Investors, and the Investors agreed to purchase from the Company, an aggregate of 51,621,560 shares of Class A Common Stock, and (arrants to purchase an additional 51,621,560 shares for a $4.36/share exercise price, for an aggregate purchase price consisting of 3,170 bitcoin. On September 30, the Company closed the PIPE Transaction, issuing the Shares and the Warrants to the Investors, and the Investors delivered 3,170 bitcoin to the custody and control of a newly-formed, wholly-owned subsidiary of the Company, AMOD Tech, a Singapore private company limited by shares. As a result of closing the PIPE Transaction, the Company's subsidiary now owns 3,170 bitcoin having a value in excess of $250M based on a reference price of approximately $83,612.20 per bitcoin on September 30.

Company Regains Nasdaq Listing Compliance

As disclosed in the Current Report on Form 8-K filed on April 10, by the Company, on April 6, the Company received a written notice from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the Company no longer met the $500,000 minimum net income standard, the alternative minimum market value of listed securities of $35M, or the alternative stockholders' equity of at least $2.5M required by Nasdaq's listing rules. Under Nasdaq's listing rules, the Company had 45 days to submit a plan to regain compliance, and if the plan was accepted, Nasdaq could grant an extension of up to 180 calendar days from the date of the Notice to regain compliance. The Company submitted its plan to regain compliance and was granted an extension to regain compliance. As a result of closing PIPE Transaction, the Company believes that it now currently has stockholders' equity well in excess of $200M, and the Company has therefore regained compliance with Nasdaq's continued listing rules, specifically the minimum stockholders' equity requirement of $2.5M under Nasdaq Listing Rule 5550(b)(1). asdaq has indicated to the Company that Nasdaq will continue to monitor the Company's ongoing compliance with Nasdaq's stockholders' equity requirement, and, if at the time of the Company's next periodic report the Company does not evidence compliance, that it may be subject to delisting.