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Alpha Modus Holdings (Nasdaq: AMOD) announced that its subsidiary, Alpha Modus Corp., has filed a patent infringement lawsuit against Wakefern Food and Shelf Nine The lawsuit, filed on December 17, 2024, in the U.S. District Court for the Eastern District of Texas, alleges infringement of multiple patent portfolios related to retail marketing and advertising data-driven technologies.
The lawsuit targets Wakefern, which operates 365 supermarkets under various brands across nine states, and Shelf Nine , a subsidiary of VSBLTY Groupe Technologies Corp. The disputed patents involve technology for analyzing consumer behavior and product interaction in real-time at the point of purchase. The company has retained Christopher E. Hanba of Dickinson Wright PLLC to handle the case.
Alpha Modus Holdings, a technology company focused on artificial intelligence in retail, announced the completion of its business combination with Insight Acquisition Corp. The company's common stock and warrants will begin trading on the Nasdaq Global Market under the symbols 'AMOD' and 'AMODW' on December 16, 2024.
As part of the closing, the company secured approximately $2.6 million through a secured convertible promissory note, which will be used for transaction costs and working capital. The financing structure includes potential for an additional $5 million capital infusion for future working capital needs, without commitment or warrant shares.
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