Onconetix Sets November 10 Vote on 154.9M Share Issuance and 1-for-15 Reverse Split

summarizeSummary

Onconetix's definitive proxy sets a November 10 vote on issuing up to 154.9 million shares for Series F Preferred conversion and authorizing a 1-for-2 to 1-for-15 reverse stock split.

check_boxKey Events · Corporate Governance and Compliance · ONCO

• Series F Conversion Vote

  Shareholders will vote on issuing up to 154,856,150 shares upon conversion of Series F Preferred Stock, priced at a floor of $0.19534 per share — a potential 30x increase over the current 5.24 million shares outstanding.

• Reverse Split Authorization

  Board seeks authority for a 1-for-2 to 1-for-15 reverse stock split to maintain Nasdaq's $1.00 minimum bid price, following two reverse splits already executed in 2026.

• Annual Meeting Scheduled

  Meeting set for November 10, 2026, with a record date of September 29, 2026; proposals require majority vote except director election (plurality).

• Auditor Ratification

  MaloneBailey, LLP up for ratification as independent auditor for fiscal year 2026; audit fees rose to $417,974 in 2025 from $267,800 in 2024.

auto_awesomeAnalysis · ONCO · Life Sciences

Onconetix has finalized its proxy statement for a November 10, 2026 annual meeting where shareholders will vote on issuing up to 154.9 million shares upon conversion of Series F Preferred Stock and authorizing a reverse stock split of up to 1-for-15. The Series F conversion alone could increase the outstanding share count by roughly 30 times the current 5.24 million shares, a massive dilution event that requires Nasdaq shareholder approval. The reverse split authority is a defensive measure to maintain the $1.00 minimum bid price, given the company's history of repeated reverse splits and ongoing going-concern warnings. The outcome of these votes will determine whether the company can honor its Series F conversion obligations and maintain its Nasdaq listing.