Allarity Therapeutics Closes Its Recapitalization, Share Exchange, and $20M PIPE Investment; Lists on U.S. Nasdaq Stock Market

On December 21, 2021 Allarity Therapeutics, Inc. ("Allarity" or the "Company"), a clinical-stage biopharmaceutical company developing novel oncology therapeutics together with drug-specific DRP companion diagnostics for personalized cancer care, reported the closing of its Recapitalization Share Exchange resulting in its initial public listing of 8,075,824 shares of its common stock and listing on the U.S Nasdaq Stock Market under the trading symbol "ALLR (Press release, Allarity Therapeutics, DEC 21, 2021, View Source [SID1234597545])."

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Simultaneously with the closing of its Recapitalization Share Exchange, the Company closed on a $20 million PIPE investment, in which the Company issued 20,000 shares of preferred stock ("Preferred Stock") at $1,000 per share and a common stock purchase warrant (the "Warrant") to purchase 2,018,958 shares of common stock to 3i, LP, a Delaware limited partnership.

A registration statement relating to the Recapitalization Share Exchange, filed previously with the Securities and Exchange Commission ("SEC"), became effective on November 5, 2021. An additional registration statement was filed on September 13, 2021, and declared effective by the SEC on December 20, 2021, with respect to the resale of shares of Allarity common stock issued upon conversion of our Preferred Stock or the exercise of the Warrant. Copies of the registration statements can be accessed through the Securities and Exchange Commission’s website at www.sec.gov.

LifeSci Capital acted as exclusive placement agent for the PIPE Investment.

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 sale of these securities in any state or other jurisdiction where such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.