09/08/2025 | Press release | Distributed by Public on 09/08/2025 14:16
Item 1.02. Termination of a Material Definitive Agreement.
As disclosed in the Current Report on Form 8-K of Alpha Modus Holdings, Inc. (the "Company") filed on August 15, 2025, on August 14, 2025, the Company entered into an exchange agreement (the "Exchange Agreement") with a family trust of the Company's CEO, William Alessi, pursuant to which the trust would exchange an aggregate of 4,300,000 shares of Series C Preferred Stock (held in the name of The Alessi 2023 Irrevocable Trust, which shares are deemed to be beneficially owned by Mr. Alessi as Mr. Alessi's spouse is the trustee of the trust) for an aggregate of 40,111,940 shares of Class A common stock.
On September 8, 2025, the Company and the family trust entered into a cancellation agreement terminating the Exchange Agreement because the closing price of the Company's Class A common stock has decreased from approximately $1.10/share on August 15, 2025, to $0.8839/share on September 5, 2025. The Company will no longer be issuing 40,111,940 shares of Class A common stock under the Exchange Agreement.
The foregoing description of the cancellation agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.