Alpha Modus Holdings, Inc. (NASDAQ: AMOD) completed the conversion of approximately 3.87 million shares of Series C Preferred Stock into common stock, according to a company statement. The conversion involved stock held by one of the Alessi family trusts and represents about 90% of the company's outstanding Series C Preferred Stock.

The transaction was first announced in April 2026 and is part of Alpha Modus' capital structure transformation strategy. The conversion eliminates most of the company's remaining legacy preferred equity and reduces mezzanine equity on the balance sheet.

"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 states the conversion supports its plan to regain compliance with Nasdaq listing standards. Alpha Modus describes itself as a vertical AI company focused on real-time, in-store shopper engagement and attribution through its retail technology platform.

The Charlotte, North Carolina-based company continues work on multiple initiatives including expansion of Alpha Cash, advancement of intellectual property licensing, and commercialization of its AI-driven retail technology platform ARIA.