other material
confidence high
sentiment neutral
materiality 0.25
TenX Keane pays additional $268,645 to redeeming shareholders after redemption price miscalculation
CITIUS ONCOLOGY, INC.
- Holders of 2,287,923 shares redeemed at $10.90/share on Jan 17, 2024, for ~$24.9M.
- Correct redemption price should have been $11.02/share, based on Jan 12, 2024 calculation.
- On May 31, 2024, company paid $268,645 aggregate top-up to cover the $0.12/share shortfall.
- Total redemption amount adjusted to ~$25.2M using corrected price of $11.02 per share.