---
schema_version: "secwatch.filing_event.v1"
accession: "0001013762-23-000742"
form_type: "8-K"
ticker: "ONCO"
cik: "0001782107"
company_name: "Onconetix, Inc."
filed_at: "2023-10-03T23:59:59+00:00"
generated_at: "2026-06-10T05:34:43.221964+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Blue Water Biotech issues Series A convertible to Veru to satisfy $4M payment

## Summary
- Entered exclusive 3-year distribution deal with Cardinal Health; start-up fee $15,500, monthly fee $7,000.
- Amended Veru asset purchase: $4M Sep 30 installment satisfied by $1M cash + 3,000 Series A Preferred shares.
- Series A Preferred converts to ~5.7M common shares at $0.5254, one-year lock, subject to shareholder approval by Dec 31, 2023.
- Preferred shares unregistered, liquidation preference $1,000/share, no voting except on significant matters.
- Company must use best efforts to obtain shareholder approval and include underlying shares in next resale registration.

## SEC filing metadata
- accession: 0001013762-23-000742
- form_type: 8-K
- ticker: ONCO
- cik: 0001782107
- company_name: Onconetix, Inc.
- filed_at: 2023-10-03T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782107/000101376223000742/0001013762-23-000742-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782107/000101376223000742/ea186204-8k_bluewater.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001013762-23-000742
- JSON: https://secwatch.observer/filing/0001013762-23-000742.json
- Plain text: https://secwatch.observer/filing/0001013762-23-000742.txt

## Key facts
- Material Agreements
  Onconetix, Inc. entered into Exclusive Distribution Agreement with Cardinal Health 105, LLC valued at Three-year term, one-time start-up fee of $15,500, monthly account management fee of $7,000 (effective 2023-09-20).
  - Action: entry
  - Agreement: supply
  - Counterparty: Cardinal Health 105, LLC
  - Value: Three-year term, one-time start-up fee of $15,500, monthly account management fee of $7,000
  - Effective: 2023-09-20
  source text: On September 21, 2023, Blue Water Biotech, Inc. (the "Company") entered into an Exclusive Distribution Agreement (the "Exclusive Distribution Agreement"), effective as of September 20, 2023 (the "Effective Date"), with Cardinal Health 105, LLC ("Cardinal Health").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782107/000101376223000742/0001013762-23-000742-index.htm
- Material Agreements
  Onconetix, Inc. amended Amendment to Asset Purchase Agreement with Veru Inc. with Veru Inc. valued at Amendment of $4 million installment payment to $1 million cash plus issuance of 3,000 shares of Seri (effective 2023-09-29).
  - Action: amendment
  - Agreement: asset purchase
  - Counterparty: Veru Inc.
  - Value: Amendment of $4 million installment payment to $1 million cash plus issuance of 3,000 shares of Seri
  - Effective: 2023-09-29
  source text: On September 29, 2023, the Company entered into an Amendment (the "Amendment") of the Asset Purchase Agreement (the "Purchase Agreement"), dated as of April 19, 2023, by and between the Company and Veru Inc., a Wisconsin corporation ("Veru") relating to the sale of the product ENTADFI TM .
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782107/000101376223000742/0001013762-23-000742-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.