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Allarity Therapeutics, Inc. Announces Pricing of $7.5 Million Public Offering
Allarity Therapeutics, Inc. Announces Pricing of $7.5 Million Public Offering BOSTON, MA (April 19, 2023) — Allarity Therapeutics, Inc. (Nasdaq: ALLR)
About this update from Allarity Therapeutics, Inc.
[{"type":"text","content":"Allarity Therapeutics, Inc. Announces Pricing of $7.5 Million Public Offering BOSTON, MA (April 19, 2023) — Allarity Therapeutics, Inc. (Nasdaq: ALLR) (“Allarity” or the “Company”), a clinical-stage pharmaceutical company developing novel oncology therapeutics together with drug-specific DRP® companion diagnostics for personalized cancer care, today announced the pricing of its “reasonable best efforts” public offering of 2,869,330 shares of common stock, 7,130,670 pre-funded warrants, and 10,000,000 common warrants to purchase 10,000,000 shares of common stock at an effective combined price of $0.75 per share and common warrant for aggregate gross proceeds of approximately $7.5 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $0.85 per share, will be exercisable immediately and will expire five years from the initial exercise date. The closing of the offering is expected to occur on or about April 21, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use a portion of the net proceeds of this offering to pay account payables and accrued liabilities outstanding, to payoff certain outstanding promissory notes, to redeem a portion of its Series A Convertible Preferred Stock and for working capital and general corporate purposes. A.G.P./Alliance Global Partners is acting as sole placement agent for the offering. The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-270514) previously filed with the Securities and Exchange Commission (SEC) which became effective on April 18, 2023. The offering is being made only by means of a prospectus forming part of the effective registration statement. Copies of the preliminary prospectus and, when available, copies of the final prospectus, relating to the offering may be obtained on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus relating to the offering may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sal...