Summary by Moomoo AI
Allarity Therapeutics, Inc. has announced a 1-for-20 reverse stock split of its common stock, which was approved by stockholders at a special meeting on April 1, 2024. The reverse stock split will be effective as of 9:30 a.m. Eastern Time on April 9, 2024. This action will consolidate every 20 shares of issued and outstanding common stock into one share, without altering the par value per share. No fractional shares will be issued; instead, fractional shares will be rounded up to the nearest whole number. The total number of authorized shares will remain at 750,000,000. Adjustments will be made to the per share exercise price and the number of shares purchasable under outstanding stock options, as well as the shares reserved for future issuance under the company's 2021 Equity Incentive Plan. The common stock will continue to trade on the Nasdaq Capital Market under the symbol 'ALLR' with a new CUSIP number post-split. Additionally, stockholders approved an amendment to increase the number of shares authorized for issuance under the 2021 Equity Incentive Plan by 1,000,000 shares.