Onconetix Seeks Approval for 154.9M Share Issuance and New Reverse Split
ONCO is trading near its 52-week low of $0.586 (12% above the low) on light trading volume (0.1× avg).
Summary
Onconetix seeks shareholder approval to issue up to 154.9 million shares upon Series F Preferred conversion and to authorize a new reverse stock split, with a special meeting on October 27, 2026.
Key Events · Corporate Governance and Compliance · ONCO
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154.9M Share Issuance Approval Sought
Shareholders are being asked to approve the issuance of up to 154,856,150 shares upon conversion of Series F Preferred Stock at the $0.19534 floor price — over 35x the current 4.38M shares outstanding.
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Deep Discount Conversion Risk
The $0.19534 floor price is roughly 70% below today's $0.6585 price, meaning the PIPE investor could convert at a steep discount and create massive dilution for existing holders.
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New Reverse Split Authority Requested
The board seeks authority for a 1-for-2 to 1-for-15 reverse split, supplemental to existing authority, after already executing 1-for-5 and 1-for-10 splits in March and May 2026.
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Special Meeting Set for October 27
The record date is September 23, 2026; the meeting will be held at Moritt Hock & Hamroff LLP offices in Garden City, NY.
Analysis · ONCO · Life Sciences
Shareholders are being asked to approve the issuance of up to 154,856,150 shares upon conversion of Series F Preferred Stock — a massive overhang relative to the 4.38 million shares currently outstanding. The conversion floor price of $0.19534 is far below today's $0.6585 price, meaning the PIPE investor could convert at a deep discount and flood the market. The company is also seeking authority for another reverse split (1-for-2 to 1-for-15) on top of the two reverse splits already executed this year, signaling continued pressure on the stock price and Nasdaq listing compliance. The special meeting is set for October 27, 2026.
How filings like this one have moved
In the 30 days to Oct 29, 2026, 38.8% of the 970 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.46%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ONCO was trading at $0.66 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.9M. The 52-week trading range was $0.59 to $209.50. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.