Onconetix resolves Nasdaq delisting risk via reverse split & listing approval

Onconetix, Inc.

Received delisting notice on Sep 18 for bid price & equity non-compliance; Nasdaq approved initial listing on Sep 19, rendering issues moot.
Effected 1-for-40 reverse stock split effective Sep 24; no fractional shares issued.
Converted all Series A Preferred (142,749 shares) and Series B Preferred (6,741,820 shares) into common stock.
Issued 513,424 units to Altos Venture with warrants; all warrants exercised for additional 154,027 shares.
Post-split shares outstanding ~8.3M; common stock continues trading on Nasdaq under ONCO.

item 3.01 item 3.02 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Onconetix, Inc.: Amended Certificate of Incorporation to effect a 1-for-40 reverse stock split of common stock (effective 2024-09-24).

Change: charter amendment
Effective: 2024-09-24

Exact text from the filing

On September 23, 2024, the Company filed an amendment (the “ Amendment ”) to the Company’s Amended and Restated Certificate of Incorporation to effect a Reverse Stock Split of all of the outstanding shares of its issued and outstanding Common Stock at a ratio of one-for-forty (1:40). The Reverse Stock Split became effective in accordance with the terms of the Amendment at 12:01 a.m. Eastern Time on September 24, 2024 (the “ Effective Time ”).

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Onconetix, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-086655

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