Onconetix raises $1.1M via warrant exercise inducement; issues 22.4M new warrants at $0.15

Onconetix, Inc.

Existing warrants for 7,458,642 shares exercised at reduced price of $0.15 (original $1.09-$2.546).
Gross proceeds of ~$1.118M; net proceeds for working capital and general corporate purposes.
New inducement warrants issued to purchase 22,375,926 shares at $0.15, subject to stockholder approval.
One-third of new warrants have 5-year term, two-thirds have 24-month term from approval.
H.C. Wainwright acted as exclusive placement agent; closing expected July 12, 2024.

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