Allarity Therapeutics, Inc. (ALLR) has released an update.
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On January 18, 2024, Allarity Therapeutics, Inc. entered into a Purchase Agreement, issuing a senior convertible promissory note valued at $440,000 for $400,000 to 3i, LP, with an 8% annual interest rate and a conversion price of $0.405 per share. They’ve agreed to waive certain rights under the agreement, allowing for an accelerated Second Closing. The proceeds are earmarked for accounts payable and working capital, and the buyer has the option to receive interest payments in cash or common stock. The company also amended the conversion price of its Series A Convertible Preferred Stock to $0.405 and filed the requisite documents with the Delaware Secretary of State.
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