secwatch.observer — SEC 8-K summary
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Issuer:     Allarity Therapeutics, Inc. (ALLR)
CIK:        0001860657
Form:       8-K
Filed at:   2024-03-15T23:59:59+00:00
Accession:  0001213900-24-022845
Event type: debt
Sentiment:  negative
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allarity Therapeutics issues $660K senior convertible note to 3i LP; Series A conversion price reduced to $0.3501
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- Issued $660K principal senior convertible note (8% interest, due March 2025) to 3i, LP at $600K purchase price (approx. 10% original issue discount).
- Note convertible into common stock at $0.3501/share; conversion limited to 4.99% ownership cap.
- Series A Preferred Stock conversion price amended from $0.405 to $0.3501 in connection with the transaction.
- Net proceeds to be used for accounts payable and working capital; restrictive covenants include no additional debt >$250K without consent.
- Note issued in unregistered transaction under Section 4(a)(2)/Regulation D to an accredited investor.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860657/000121390024022845/0001213900-24-022845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860657/000121390024022845/ea0201874-8k_allarity.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-022845

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer