Onconetix announces 1-for-40 reverse stock split effective Sept 24, 2024 to regain Nasdaq compliance

Onconetix, Inc.

Reverse stock split at 1:40 ratio; outstanding shares reduced from ~30.2M to ~755,000 shares.
Effective 12:01 a.m. ET on Sept 24, 2024; common stock continues trading under 'ONCO' with new CUSIP 68237Q104.
Stockholders approved all proposals at Sept 5 annual meeting, including director elections and equity plan increase to 58M shares.
Split intended to help meet Nasdaq $4.00 minimum bid price for initial listing.
No fractional shares issued; cash payment for fractional shares based on Sept 23 closing price.

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