
Core Insights - Onconetix, Inc. has completed a private placement of Series D Convertible Preferred Stock and Warrants, raising approximately $12.9 million [1][2] - The financing transaction involved $9.3 million in cash and the remainder used to offset debts [1][3] - The proceeds will be used to settle debts, cover costs related to a terminated business combination, and for working capital [3] Financing Details - The private placement includes shares convertible into 4,362,827 shares of Common Stock and Warrants to purchase the same number of shares [1] - The initial exercise price for the Warrants is set at $3.6896 per share, with anti-dilution adjustments applicable [1] - The Company will seek stockholder approval for the issuance of shares related to the Series D Preferred Stock and Warrants [2] Debt Settlement - Approximately $6.3 million of the financing proceeds were allocated to settle a debt with Veru, Inc., while $2.5 million of debt was converted into Series D Preferred Stock and Warrants [3] - The total debt owed to Veru, Inc. was approximately $8.8 million [3] Company Overview - Onconetix, Inc. is focused on innovative solutions for men's health and oncology, including the Proclarix® diagnostic test for prostate cancer [4] - The Company has acquired Proteomedix, enhancing its product offerings in the oncology space [4]