Summary by Moomoo AI
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