India, Sept. 11 -- Friday, Allarity Therapeutics, Inc. (ALLR) announced that Allarity Acquisition Corp., a newly formed special purpose acquisition company, has filed for a proposed initial public offering of its units to list on Nasdaq under the symbol 'ALLNU'.
The offering is expected to have a base offering size of $100 million, or $115 million if the underwriters exercise their over-allotment option in full.
As per the terms of the offering, ALLR Sponsor LLC, a wholly-owned subsidiary of Allarity, is estimated to own approximately 25.0% of Allarity Acquisition Corp.'s issued and outstanding ordinary shares following completion of the offering.
Jesper Hoiland, a current board member of Allarity and a former EVP and President of Novo N...