Update

Allarity Therapeutics Receives Approximately SEK 23.3 Million (US $2.7 Million) from Subscription to Warrants of Series ALLR TO 2 and TO 3

• Subscription is approximately 9.5 percent of total outstanding TO 3 warrants
• Allarity’s Chairman of the Board and largest shareholder (Sass & Larsen ApS) participated in the subscription
  
  

Press Release

Hørsholm, Denmark (September 15, 2021) CORRECTION: The press release that the company published on September 14, 2021, at 23:06 CEST, contained an incomplete computation of the number of subscribed shares. The correct number of subscribed shares shall be 13,719,266. Consequently, the amount raised is SEK approximately 23.3 million (US $ 2.7), and the nominal capital increase is of 685,963.3. All relevant numbers have been updated according to these numbers.

– Allarity Therapeutics A/S (“Allarity” or the “Company”) today announces the outcome of the exercise of the warrants of series ALLR TO 3 that were issued in connection with the Company’s issue of units in June 2021. In total, 13,719,266 warrants of series TO 3 were exercised, corresponding to approximately 9.5 percent of the total number of outstanding warrants, for subscription of 13,719,266 shares at a subscription price of SEK 1.7 per share. Through the exercise of the warrants, Allarity will receive approximately SEK 23.3 million (U.S. $2.7 million) before issuing costs amounting to approximately SEK 1.4 million.

UPDATE on the outcome of the exercise of the warrants of series ALLR TO 2 that were issued in connection with the Company’s issue of units in December 2019. In total, 8,820 warrants of series TO 2 were exercised, corresponding to approximately 0.02 percent of the total number of outstanding warrants, for subscription of 8,820 shares at a subscription price of SEK 6.0 per share. Through the exercise of the TO 2 warrants, Allarity will receive approximately SEK 53,000 before issuing costs. The final exercise period for the warrants of series TO 2 took place from September 1 up to and including September 15, 2021.

Chairman of Allarity’s Board of Directors Duncan Moore (who exercised 283,407 warrants) and the Company’s largest shareholder, Sass & Larsen ApS, were among the subscribers.

The exercise period for the warrants of series TO 3 took place from August 30 up to and including September 13, 2021. The accelerated exercise period was established, as previously announced, due to the Board of Directors’ determination that it was in the best interest of all shareholders as part of the Company’s plan to move to the U.S. Nasdaq stock market and to meet the requirements of the previously announced U.S. $20 Million recapitalization investment with 3i LP (New York).