secwatch.observer — SEC 8-K summary
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Issuer:     Onconetix, Inc. (ONCO)
CIK:        0001782107
Form:       8-K
Filed at:   2024-09-20T23:59:59+00:00
Accession:  0001213900-24-080705
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1782107/000121390024080705/0001213900-24-080705-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1782107/000121390024080705/ea0215265-8k_onconetix.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-080705

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