Allarity Therapeutics modifies conversion price of Series A Preferred Stock held by 3i LP

Allarity Therapeutics, Inc.

Agreement with 3i LP modifies conversion price to lower of closing price on day before conversion or 5-day average, through Jan 19, 2023.
Change made under Section 8(g) of Certificate of Designations for Series A Convertible Preferred Stock.
3i LP also holds a secured promissory note from the company dated November 22, 2022.

item 1.01 item 3.03

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Allarity Therapeutics, Inc. amended a equity purchase with 3i, LP (effective 2022-12-09).

Action: amendment
Agreement: equity purchase
Counterparty: 3i, LP
Effective: 2022-12-09

Exact text from the filing

On December 9, 2022, the Company and 3i, LP (“3i”), the holder of outstanding shares of Series A Convertible Preferred Stock (“Series A Preferred Stock”) entered into a letter agreement which provided that pursuant to Section 8(g) of the Certificate of Designations for the Series A Preferred Stock, the parties agreed that the Conversion Price (as defined in such Certificate of Designations”) was modified to mean the lower of: (i) the Closing Sale Price (as defined in the Certificate of Designations) on the trading date immediately preceding the Conversion Date (as defined in the Certificate of Designations and (ii) the average Closing Sale Price of the common stock for the five trading days immediately preceding the Conversion Date, for the Trading Days (as defined in the Certificate of Designations) through and inclusive of January 19, 2023.

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Source: SEC EDGAR

accession 0001213900-22-078885

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