On August 19, 2024, Allarity Therapeutics, Inc. (Allarity) announced the successful completion of a private placement offering, where the company sold 35,000 shares of Series A Convertible Redeemable Preferred Stock at $90 per share, resulting in gross proceeds of approximately $3.15 million. The Preferred Stock, with par value $0.0001 per share, grants holders voting rights and dividends on an as-if converted basis to common stock. Allarity also filed a Certificate of Designation with the Delaware Secretary of State, outlining the rights and preferences of the Preferred Stock. Additionally, the company plans to propose a reverse stock split at an upcoming annual meeting, with the exact ratio to be determined by the Board of Directors. The Purchasers of the Preferred Stock have agreed to support this...Show More

On August 19, 2024, Allarity Therapeutics, Inc. (Allarity) announced the successful completion of a private placement offering, where the company sold 35,000 shares of Series A Convertible Redeemable Preferred Stock at $90 per share, resulting in gross proceeds of approximately $3.15 million. The Preferred Stock, with par value $0.0001 per share, grants holders voting rights and dividends on an as-if converted basis to common stock. Allarity also filed a Certificate of Designation with the Delaware Secretary of State, outlining the rights and preferences of the Preferred Stock. Additionally, the company plans to propose a reverse stock split at an upcoming annual meeting, with the exact ratio to be determined by the Board of Directors. The Purchasers of the Preferred Stock have agreed to support this amendment. Furthermore, Allarity has entered into a Registration Rights Agreement, committing to file a registration statement with the SEC for the resale of common stock upon conversion of the Preferred Stock. In a separate event, Allarity amended its license agreement with Eisai Inc. for Stenoparib, extending the deadline for a Phase 2 Clinical Trial and adjusting the payment schedule. The Nasdaq Hearings Panel has approved Allarity's request to maintain its listing, contingent on shareholder approval for the reverse split by September 6, 2024.