Allarity Therapeutics, Inc. announced that it has entered into a Securities Purchase Agreement with returning investor 3i LP, pursuant to which the company issued and sold to the Purchaser a senior convertible promissory note in an aggregate principal amount of $440,000 due on January 18, 2025 for an aggregate purchase price of $800,000 on January 18, 2024. Subject to the satisfaction of the conditions set forth in the Purchase Agreement, the Purchaser shall also have the right to require us to consummate one or more additional closings of up to an additional $600,000 of notes in the aggregate. The company agreed to pay interest to the Purchaser on the aggregate unconverted and then outstanding principal amount of the Note at the rate of 8% per annum. The first interest payment is due on February 1, 2024, with subsequent payments on the 1st of each month, starting from March 1, 2024, until the Note is fully redeemed. The interest is payable in cash or, at the Purchaser?s option, in shares of our common stock, par value $0.0001, at the 90% of the lowest VWAP during the previous ten trading days that is immediately prior to the interest payment dates. Under the terms of the Note, the Purchaser has the exclusive right to choose whether to receive interest payments in cash or as shares of our common stock.

On the same day, the company raised a senior convertible promissory note for the gross proceeds of $400,000 in its first tranche. The company has received $400,000 pursuant to Regulation D and included participation from single investor.