Summary by Futu AI
On March 14, 2024, Allarity Therapeutics, Inc. (Allarity Therapeutics), a biotechnology firm, reported the completion of a subsequent closing as part of a previously disclosed securities purchase agreement with 3i, LP. The company issued a senior convertible promissory note with a principal amount of $660,000, due on March 14, 2025, for a purchase price of $600,000. This transaction is intended to provide Allarity Therapeutics with working capital and funds for accounts payable. The note carries an 8% annual interest rate, with the first payment due on April 1, 2024, and monthly payments thereafter. The interest can be paid in cash or in common stock at the purchaser's discretion. The note is convertible into common stock at a set price of $0.3501 per share, subject to certain ownership limitations. Additionally, Allarity...Show More