CHARLOTTE, N.C. - Alpha Modus Holdings, Inc. (NASDAQ:AMOD) announced Monday the completion of converting approximately 3.87 million shares of Series C Preferred Stock into common stock, according to a press release statement.
The conversion involved shares held by one of the Alessi family trusts and represents approximately 90% of the company’s outstanding Series C Preferred Stock. The transaction was first announced in April 2026.
The conversion eliminates the majority of the company’s remaining preferred equity and reduces mezzanine equity on the balance sheet. Alpha Modus stated the move supports its plan to regain compliance with Nasdaq listing standards.The balance sheet restructuring comes as the company faces financial pressure, with its stock down 83% over the past year to a current price of $0.21, leaving it with a market capitalization of just $10.79 million. According to InvestingPro analysis, which offers 11 additional exclusive tips for AMOD, short-term obligations currently exceed liquid assets.
"This is not a financing event. It is the conversion of legacy preferred securities into common equity, placing the overwhelming majority of insider ownership alongside our shareholders in a single class of stock," said William Alessi, Chief Executive Officer of Alpha Modus.
The company develops AI-driven retail technology and financial services infrastructure. Its technology platform includes Alpha Cash and ARIA, described as an Adaptive Retail Intelligence Architecture.
Alpha Modus stated the conversion aligns one of its largest shareholder groups with common shareholders through a single class of stock.
The conversion is part of the company’s capital structure transformation strategy announced earlier in 2026. Alpha Modus operates through subsidiaries including Alpha Modus Financial Services, deploying technologies in artificial intelligence, retail media, and financial access across physical retail locations.
In other recent news, Alpha Modus Holdings, Inc. has been actively expanding its product offerings and partnerships. The company announced the launch of ARIA, an AI platform designed for physical retail stores, utilizing Anthropic’s Claude Sonnet 4.6 as its AI analysis engine. This new platform aims to integrate seamlessly with existing infrastructure, requiring no additional hardware. Additionally, Alpha Modus introduced Alpha Cash, a mobile banking app targeting unbanked and underbanked consumers, available on the Apple App Store and through physical kiosks.
In a strategic move, Alpha Modus entered into a multi-year Commercial Integration and Distribution Agreement with SurgePays, Inc. to deploy the Alpha Cash mobile wallet across SurgePays’ retail channels. This partnership will see the integration of Alpha Cash into SurgePays’ consumer-facing ecosystem, including its prepaid wireless and convenience-store distribution network. As part of this collaboration, a pilot program was launched to integrate the Alpha Cash wallet across SurgePays’ distribution network, capped at 25,000 activations. SurgePays will receive $10 per activation and a 10% revenue share on net revenue from each enrolled wallet user for five years. These developments highlight Alpha Modus’s efforts to expand its market presence and enhance its service offerings.
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