Allarity Therapeutics, Inc. (ALLR)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR). Investors who purchased Allarity securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Allarity has violated federal securities laws.
On July 6, 2023, Allarity “announced the pricing of its ‘reasonable best efforts’ public offering of 2,444,445 shares of common stock (or common stock equivalents in lieu thereof) and common warrants to purchase up to 2,444,445 shares of common stock at an effective combined price of $4.50 per share and common warrant for aggregate gross proceeds of approximately $11 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $4.50 per share, will be exercisable immediately and will expire five years from the initial exercise date.” Allarity stated that “[t]he closing of the offering is expected to occur on or about July 10, 2023” and that “[t]he Company intends to use a portion of the net proceeds of this offering to pay account payables and accrued liabilities outstanding, to make payments under certain license agreements, to pay off a certain outstanding promissory note, to conduct clinical trials, to redeem a portion of its Series A Convertible Preferred Stock and for working capital and general corporate purposes.” On this news, Allarity’s stock price fell $4.47 per share, or 53.99%, to close at $3.81 per share on July 6, 2023.
If you are aware of any facts relating to this investigation or purchased Allarity shares, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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