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Onconetix announces financing through private placement, debt settlement
OnconetixOnconetix(US:ONCO) Yahoo Financeยท2025-09-27 12:40

Group 1 - Onconetix announced a private placement of Series D Convertible Preferred Stock and warrants, raising approximately $12.9 million [1] - The financing included $9.3 million in cash, with the remainder used to offset debts owed to certain investors [1] - The Series D Preferred Stock is convertible into 4,362,827 shares of Common Stock, with anti-dilution adjustments [1] Group 2 - The warrants have an initial exercise price of $3.6896 per share and are exercisable for three years from the issuance date [1] - Approximately $6.3 million of the proceeds were used to pay off a debt to Veru, Inc., while $2.5 million of debt was converted into Series D Preferred Stock and warrants [1] - Remaining net cash proceeds will be used for costs related to the termination of a business combination with Ocuvex, Inc., and for working capital [1]