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Onconetix, Inc. Announces 1-for-85 Reverse Stock Split and Results of the Special Meeting of Stockholders
CINCINNATI, Ohio, June 11, 2025 (GLOBE NEWSWIRE) -- Onconetix, Inc. (NASDAQ: ONCO) (“Oncon...
About this update from Onco-innovations Ltd.
[{"type":"text","content":"Onconetix, Inc. Announces 1-for-85 Reverse Stock Split and Results of the Special Meeting of Stockholders \n\n\n\n CINCINNATI, Ohio, June 11, 2025 (GLOBE NEWSWIRE) -- Onconetix, Inc. (NASDAQ: ONCO) (“Onconetix” or the “Company”), a commercial-stage biotechnology company focused on the research, development, and commercialization of innovative solutions for men’s health and oncology, today announced that the Company’s stockholders have approved a proposal to effect a reverse split, which was voted on at the Company’s 2025 special meeting of stockholders (the “Special Meeting”) held on May 30, 2025, and that its Board of Directors (the “Board of Directors” or “Board”) approved a 1-for-85 reverse stock split of its outstanding shares of common stock, to be effective as of 12:01 a.m. Eastern Time on June 13, 2025.\n \n\n\n Results of the Special Meeting\n \n\n\n At the Special Meeting, Onconetix’s stockholders approved the following proposals:\n \n\n\n an amendment to the Onconetix, Inc. Amended and Restated Certificate of Incorporation to effect a reverse stock split of all of the outstanding shares of the Company’s common stock, par value $0.00001 per share, at a ratio in the range of 1-for-10 to 1-for-150, at any time prior to the one-year anniversary date of the Special Meeting, with such ratio to be determined by the Board without further approval or authorization of the stockholders; and\n \n\n the adjournment of the Special Meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Special Meeting to approve the Reverse Stock Split Proposal. (the “Adjournment Proposal”).\n \n\n\n Final voting results from the Special Meeting were reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on June 5, 2025.\n \n\n\n Reverse Stock Split\n \n\n\n In conjunction with stockholder approval of the reverse stock split, the Company’s Board of Directors determined to fix a split ratio of 1-for-85 shares. The Company’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on June 13, 2025. Following the reverse stock split, the Company’s c...