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Allena Pharmaceuticals Announces .8 Million Registered Direct Offering

Allena Pharmaceuticals Announces $2.8 Million Registered Direct Offering

Allena Pharmaceuticals, Inc.

NEWTON, Mass., Might 04, 2022 (World NEWSWIRE) — Allena Prescribed drugs, Inc. (NASDAQ: ALNA), a late-stage, biopharmaceutical firm devoted to producing and commercializing to start with-in-class, oral enzyme therapeutics to address clients with rare and serious metabolic and kidney issues, nowadays announced that it has entered into a securities buy settlement with an investor for the issuance and sale of an combination of 1,436.0688 shares of its Sequence D Convertible Chosen Stock, and 1,436.0688 shares of its Sequence E Convertible Chosen Inventory in a registered immediate supplying for an aggregate gross proceeds of roughly $2.8 million, prior to deducting placement agent costs and other featuring fees. The shares of Collection D Convertible Chosen Inventory and Sequence E Convertible Desired Stock just about every have a stated benefit of $1,000 for each share and are convertible into an mixture of 8,975,430 shares of frequent inventory of the Business upon the conversion of the Sequence D Convertible Desired Stock and into an combination of 8,975,430 shares of widespread inventory of the Firm on the conversion of the Series E Convertible Desired Inventory, in each individual scenario, at a conversion price tag of $.16 per share.

H.C. Wainwright & Co. is acting as the unique placement agent for the giving.

The Organization has declared a report day of May possibly 4, 2022 for a distinctive meeting of stockholders for the acceptance of a proposal to impact a reverse split of its popular inventory (the “Proposal”). The Collection D Convertible Most popular Inventory has voting legal rights on the Proposal equal to the range of shares of frequent stock into which the Collection D Convertible Most popular Inventory is convertible based mostly on a selling price of $.1693 for every share, for every Nasdaq voting needs. The Collection E Convertible Chosen Stock has voting legal rights on the Proposal equivalent to 1,000,000 votes for each share of Sequence E Convertible Most popular Stock, presented that, in accordance with Nasdaq listing procedures, any votes forged by the Sequence E Convertible Most popular Stock with respect to the Proposal have to be counted by the Company in the exact same proportion as the shares of widespread inventory and Collection D Convertible Favored Inventory that voted on the Proposal. The shares of the Series D Convertible Preferred Inventory and Collection E Convertible Most popular Inventory are convertible at the solution of the holder at any time subsequent the day of issuance.

The closing of the featuring is expected to take place on May 4, 2022, issue to the gratification of customary closing circumstances.

Allena at this time intends to use the web proceeds from the featuring for functioning funds reasons which may perhaps consist of repayment of credit card debt.

In a concurrent private placement, the Corporation also agreed to challenge to the investor in the registered direct providing unregistered warrants to order up to an mixture of 22,438,575 shares of our frequent inventory, at an exercise cost of $.1694 for every share, which are exercisable 6 months following the day of issuance, and will expire five yrs from the first exercising date.

The Collection D and Series E Convertible Favored Inventory described over and the fundamental shares of Common Inventory (but not the warrants or the shares of typical inventory underlying the warrants) are staying made available pursuant to a “shelf” registration assertion on Variety S-3 (Registration No. 333-255837), which was declared effective by the Securities and Exchange Fee (the “SEC”) on May well 12, 2021. The featuring of the securities is created only by suggests of a prospectus, like a prospectus nutritional supplement, forming a section of the successful registration statement. A final prospectus dietary supplement and accompanying prospectus relating to the securities remaining available will be filed with the SEC. Electronic copies of the final prospectus nutritional supplement and the accompanying prospectus relating to the giving may perhaps be attained, when available, on the SEC’s web page at http://www.sec.gov or by speaking to H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Flooring, New York, New York 10022, or by calling (212) 856-5711 or by emailing [email protected]

The warrants issued in the concurrent personal placement and the shares of typical inventory fundamental the warrants are becoming offered in a personal placement below Portion 4(a)(2) of the Securities Act of 1933, as amended (the “Act”), and Regulation D promulgated thereunder and have not been registered underneath the Act or relevant state securities guidelines. Accordingly, the warrants and underlying shares of widespread inventory may well not be provided or sold in the United States apart from pursuant to an powerful registration statement or an applicable exemption from the registration demands of the Act and this kind of relevant condition securities regulations.

This press launch shall not constitute an supply to market or a solicitation of an offer to invest in these securities, nor shall there be any sale of these securities in any condition or other jurisdiction in which this sort of offer you, solicitation or sale would be illegal prior to the registration or qualification underneath the securities guidelines of any these types of condition or other jurisdiction.

About Allena Pharmaceuticals, Inc.

Allena Pharmaceuticals, Inc. is a biopharmaceutical firm committed to discovering, creating and commercializing very first-in-class, oral biologic therapeutics to deal with patients with unusual and extreme metabolic and kidney disorders.

Forward Hunting Statements

Specific information contained in this push launch includes “forward-wanting statements” inside the which means of The Non-public Securities Litigation Reform Act of 1995, together with statements connected to the completion of the registered direct providing, our supposed use of proceeds from the offering, registered direct providing and specific conference of shareholders. We may possibly, in some situations, use terms this kind of as “predicts,” “believes,” “potential,” “carry on,” “anticipates,” “estimates,” “expects,” “strategies,” “intends,” “may well,” “could,” “might,” “will,” “must” or other terms that convey uncertainty of the long run occasions or results to detect these forward-on the lookout statements. Our forward-seeking statements are based mostly on existing beliefs and expectations of our management crew that require pitfalls, possible adjustments in conditions, assumptions, and uncertainties. Any or all of the forward-seeking statements may well transform out to be mistaken or be impacted by inaccurate assumptions we might make or by identified or unfamiliar hazards and uncertainties as a final result of a variety of crucial things, together with the uncertainties relevant to sector ailments and the completion of the offering on the expected conditions or at all, the fulfillment of customary closing conditions relevant to the registered direct presenting and a variety of other factors. For a much more in depth description of the hazards and uncertainties that could result in true final results to vary from these expressed in these ahead-hunting statements, as properly as threats relating to our enterprise in common, please refer to our most latest Once-a-year Report on Kind 10-K You are cautioned not to position undue reliance on these forward-looking statements, which are produced only as of the date of this press release. We undertake no obligation to publicly update these types of forward-on the lookout statements to replicate subsequent activities or situations.

Trader Make contact with
Ashley Robinson
LifeSci Advisors, LLC
617-430-7577
[email protected]