Allarity Therapeutics, Inc. (ALLR): debt financing — Allarity enters $440K convertible note with 3i, LP; Series A conversion price cut to $0.4476

Allarity Therapeutics, Inc.

Issued $440K principal senior convertible note to 3i, LP at $400K purchase price (10% OID), due Jan 18, 2025, 8% interest.
Conversion price set at $0.4476 per share; Purchaser limited to 4.99% beneficial ownership cap.
Second closing of $440K note at same terms may be required by company; potential additional $600K notes.
Series A Preferred Stock conversion price amended from $1.00 to $0.4476 via Fifth Amendment.
Proceeds used for accounts payable and working capital; negative covenants restrict further debt over $250K.

item 1.01 item 2.03 item 3.02 item 3.03 item 5.03 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Allarity Therapeutics, Inc. incurred convertible notes of $440,000 with 3i, LP at 8% per annum maturing January 18, 2025.

Instrument: convertible notes
Principal: $440,000
Counterparty: 3i, LP
Rate: 8% per annum
Maturity: January 18, 2025
Event: incurrence

Exact text from the filing

we issued and sold to the Purchaser a senior convertible promissory note in an aggregate principal amount of $440,000 (the “Principal Amount”) due on January 18, 2025

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

Allarity Therapeutics, Inc. entered into Securities Purchase Agreement with 3i, LP valued at $440,000 (effective 2024-01-18).

Action: entry
Agreement: equity purchase
Counterparty: 3i, LP
Value: $440,000
Effective: 2024-01-18

Exact text from the filing

On January 18, 2024 (the “First Closing Date”), Allarity Therapeutics, Inc., a Delaware corporation (“we,” “our,” or the “Company”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with 3i, LP, a Delaware limited partnership (the “Purchaser”), pursuant to which we issued and sold to the Purchaser a senior convertible promissory note in an aggregate principal amount of $440,000

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283 debt financings filed in the last 30 days. Browse all debt financings →

Allarity Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-004946

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