---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-098928"
form_type: "8-K/A"
ticker: "ONCO"
cik: "0001782107"
company_name: "Onconetix, Inc."
filed_at: "2023-12-27T23:59:59+00:00"
generated_at: "2026-06-07T06:58:07.208108+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Onconetix issues $75M in stock for Proteomedix; prior holders diluted to 5.4%

## Summary
- Onconetix issued 3,675,414 common shares (19.9% of outstanding) and 2,696,729 Series B convertible shares (convertible into 269,672,900 common) for Proteomedix.
- Aggregate consideration valued at ~$75M; Tungsten Advisors received $7.5M in Exchange Shares as compensation.
- Post-closing common outstanding: 22,061,746; after conversion, pre-closing stockholders will own ~5.4%.
- Lock-up of 6 months after stockholder approval; Series B converts automatically or cash settles by Jan 1, 2025.

## SEC filing metadata
- accession: 0001213900-23-098928
- form_type: 8-K/A
- ticker: ONCO
- cik: 0001782107
- company_name: Onconetix, Inc.
- filed_at: 2023-12-27T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1782107/000121390023098928/0001213900-23-098928-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1782107/000121390023098928/ea190756-8ka1_onconetix.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-098928
- JSON: https://secwatch.observer/filing/0001213900-23-098928.json
- Plain text: https://secwatch.observer/filing/0001213900-23-098928.txt

## Key facts
- Material Agreements
  Onconetix, Inc. entered into Share Exchange Agreement with Proteomedix AG valued at Aggregate value of Exchange Shares at Closing approximately $75,000,000; Onconetix issued 3,675,414 (effective 2023-12-15).
  - Action: entry
  - Agreement: merger
  - Counterparty: Proteomedix AG
  - Value: Aggregate value of Exchange Shares at Closing approximately $75,000,000; Onconetix issued 3,675,414
  - Effective: 2023-12-15
  source text: On December 15, 2023, Onconetix, Inc, a Delaware corporation f/k/a Blue Water Biotech, Inc. (“ Onconetix ” or the “ Buyer ”), entered into a Share Exchange Agreement
  evidence_url: https://www.sec.gov/Archives/edgar/data/1782107/000121390023098928/0001213900-23-098928-index.htm

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