Onconetix amends forbearance with Veru; extends Note maturity to June 2025, raises payment percentages

Onconetix, Inc.

Amended forbearance extends April 2024 Note forbearance to March 31, 2025; extends September 2024 Note maturity to June 30, 2025.
10% interest accrues on unpaid balances of both notes; monthly cash receipt payments increased from 15% to 25% (effective Oct 20).
20% of net proceeds from financings/asset sales to be paid to Veru (up from 10%); applicable to proceeds after Sept 19, 2024.
If all principal and interest paid in cash by Dec 31, 2024, September Note principal reduced from $5M to $3.5M.
Series A Preferred Stock to convert to common after reverse split; conversion shares to be unrestricted after one year.

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