Summary by Moomoo AI
On February 13, 2024, Allarity Therapeutics, Inc. (Allarity Therapeutics), a biotechnology firm, announced the completion of a significant financial transaction with 3i, LP. The event, known as the Second Closing, involved the issuance of a senior convertible promissory note valued at $440,000, which is due on February 13, 2025. The note was sold at a 10% discount for $400,000 and is intended to be used for accounts payable and working capital purposes. The agreement allows the note to be converted into common stock at $0.405 per share, subject to certain ownership limitations. Additionally, Allarity Therapeutics has amended the conversion price of its Series A Convertible Preferred Stock to the same price of $0.405. The company has also filed the Sixth Certificate of Amendment to reflect this change. The sale of the securities was made to an accredited investor and was exempt from registration under the Securities Act of 1933, based on exemptions applicable to transactions not involving a public offering.