Onconetix raises $12.9M via Series D convertible preferred stock and warrants in PIPE financing

Onconetix, Inc.

• Company sold 16,099 shares of Series D convertible preferred stock and warrants to purchase 4,362,827 shares of common stock to eleven institutional investors.
• Aggregate purchase price of approximately $12.9 million, with about $9.3 million in cash and the balance offsetting amounts owed to Veru Inc. and others.
• Series D preferred stock has a stated value of $1,000 per share, convertible into common stock at an initial conversion price of $3.6896 per share.
• Company entered into a registration rights agreement with the PIPE investors for resale of underlying common shares.

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