Allarity Therapeutics raises $1.2M via Series C Convertible Redeemable Preferred Stock offering

Allarity Therapeutics, Inc.

Sold 50,000 shares of Series C Preferred at $24/share for $1.2M total to an accredited investor.
Series C carries 5% annual dividend, convertible at lower of $0.182 or market price, floor $0.037.
Redemption at 110% of stated value ($27) after 60 days up to 365 days from issue.
Special meeting on March 20, 2023 to seek stockholder approval for authorized share increase and reverse stock split.
Registration rights agreement requires filing; failure triggers 2% monthly liquidated damages on subscription amount.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Allarity Therapeutics, Inc.: Filed Certificate of Designation of Series C Preferred Stock (effective 2023-02-24).

Change: charter amendment
Effective: 2023-02-24

Exact text from the filing

Pursuant to the terms of the SPA, on February 24, 2023, the Company filed a Certificate of Designation of Preferences, Rights and Limitations of Series C Preferred Stock (the “Series C COD”) with the Delaware Secretary of State designating 50,000 shares of its authorized and unissued preferred stock as Series C Preferred Stock with a stated value of $27.00 per share (the “Stated Value”).

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Allarity Therapeutics, Inc.: Filed certificate of amendment to Series C COD to clarify conversion price and floor price (effective 2023-02-28).

Change: charter amendment
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, the Company filed a certificate of amendment to the Series C COD (the “COD Amendment”) to clarify the terms of conversion price and floor price based on definitions provided in the Series C COD

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83 governance changes filed in the last 30 days. Browse all governance changes →

Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-015550

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