Allena Pharmaceuticals previously entered into an At Market Issuance Sales Agreement with B. Riley Securities (the sales agent) on December 23, 2021, pursuant to which the company was able to issue and sell from time to time in an “at-the-market” offering shares of the Company’s common stock, par value $0.001 per share (the common stock). As of June 27, 2022, 6,804,888 shares of Common Stock have been issued and sold under the Sales Agreement.
On June 27, 2022, Allena Pharmaceuticals provided notice to the Sales Agent that it was terminating the Sales Agreement, effective immediately. And the Sales Agreement provided for termination thereof by either party upon ten (10) calendar days’ prior written notice to the other party. Allena Pharmaceuticals will not incur any early termination penalties in connection with the termination of the Sale Agreement.
https://pulse2.com/allena-pharmaceuticals-alna-stock-why-it-surged-over-260/
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