Allarity Therapeutics implements 1-for-40 reverse stock split to meet Nasdaq minimum bid requirement

Allarity Therapeutics, Inc.

Reverse stock split effective 4:05 pm NY time June 28, 2023 at a 1-for-40 ratio.
Outstanding shares reduced from 20,142,633 to approximately 503,566; fractional shares rounded up.
Split intended to increase per-share price and bring company into compliance with Nasdaq minimum bid price.
Common stock begins trading on post-split basis under symbol ALLR on June 29, 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.: Filed Fourth Certificate of Amendment to effect a 1-for-40 reverse stock split of common stock (effective 2023-06-28).

Change: charter amendment
Effective: 2023-06-28

Exact text from the filing

On June 28, 2023, upon receipt of the required stockholder approval, Allarity Therapeutics, Inc. (the “Company”) filed a Fourth Certificate of Amendment of Certificate of Incorporation (the “Certificate of Amendment”) with the Secretary of State of Delaware to effect a 1-for-40 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 June 28, 2023 (the “Reverse Stock Split”).

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Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-052454

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