DealsJun 12, 2026, 06:07 AM
NeOnc Technologies to Raise $5M via Convertible Preferred Stock Sale
AI Summary
NeOnc Technologies Holdings, Inc. entered into a Securities Purchase Agreement to issue and sell up to $5 million of Series A Convertible Preferred Stock to accredited investors. The stock is priced at $833.34 per share. The issuance is exempt from registration under Section 4(a)(2) of the Securities Act. The company also amended its Certificate of Incorporation to authorize the Series A Preferred Stock, which has specific liquidation preferences and redemption/conversion terms. The company must file a registration statement for the resale of common stock issuable upon conversion.
Key Highlights
- NeOnc Technologies Holdings to issue up to $5 million in Series A Convertible Preferred Stock to accredited investors.
- Series A Preferred Stock priced at $833.34 per share, with up to 6,000 shares authorized.
- The issuance qualifies for exemption under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D.
- Company agreed to file a registration statement for resale of common stock issuable upon conversion.
- Series A Preferred Stock ranks senior to common stock in liquidation preference.
- Company has redemption rights for Series A Preferred Stock within four months, with potential extensions.
- Conversion to common stock occurs if redemption is not elected, with conversion price at 80% of the lowest 5-day closing price, subject to limitations.
Price Impact
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