Allarity Therapeutics announces 1-for-35 reverse stock split effective March 24, 2023

Allarity Therapeutics, Inc.

Reverse split reduces outstanding shares from 34,294,582 to ~979,846; no change in authorized shares (750M).
Split effective at 4:05 p.m. ET on March 24, 2023; trading begins post-split on Nasdaq March 27 under symbol ALLR.
Purpose: to increase per-share price to meet Nasdaq minimum bid price requirement and support capital raising.
Fractional shares rounded up to nearest whole share; proportional adjustments to options, warrants, and exercise prices.
CUSIP changed to 016744203; board determined ratio after stockholder approval at special meeting on March 20, 2023.

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.: Effected a 1-for-35 reverse stock split of common stock via amendment to Certificate of Incorporation (effective 2023-03-24).

Change: charter amendment
Effective: 2023-03-24

Exact text from the filing

On March 23, 2023, the Company filed a Third Certificate of Amendment of Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of Delaware to effect a 1-for-35 reverse stock split of the shares of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), effective as of 4:05 p.m. (New York time) on March 24, 2023 (the “Reverse Stock Split”).

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Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-022572

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