Onconetix shareholders to vote on Series B conversion, $5M financing at Sept 5 meeting

Onconetix, Inc.

Annual meeting on Sept 5, 2024; vote on conversion of 269.7M shares from Series B Preferred and $5M PMX private placement.
Pro forma shows Series B conversion eliminates $64.2M carrying value of preferred stock and adds 269.7M common shares.
Pro forma also reflects settlement of $5M related party debenture via 20.5M shares and PIO exercise netting $922,749.
If approved, conversion triggers a change of control, requiring full compliance with Nasdaq initial listing criteria.
Pro forma weighted average shares outstanding would be 325.5M vs 22.2M actual; net loss per share widens to $0.08.

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