other material
confidence high
sentiment neutral
materiality 0.75
Onconetix raises $30.25M via Series F convertible preferred and enters $750M ELOC facility
Onconetix, Inc.
- Issued 37,812 shares of Series F convertible preferred stock at $1,000 stated value for $30.25M aggregate purchase price.
- Series F convertible into common stock at $0.9767 per share, subject to anti-dilution adjustments and beneficial ownership limitation of 4.99%.
- Entered into ELOC purchase agreement for up to $750M (or 19.99% of outstanding shares) with $30M commitment fee applied to PIPE.
- Registration rights agreements filed for resale of conversion shares and ELOC shares; penalties for failure to register.