SplitMay 19, 2026, 08:02 AM
Onconetix Board Approves 1-for-10 Reverse Stock Split
AI Summary
Onconetix, Inc. announced that its Board of Directors has approved a 1-for-10 reverse stock split of its common stock, effective May 21, 2026. This action, previously approved by stockholders, is intended to help the company maintain compliance with The Nasdaq Capital Market's minimum bid price requirement. Following the split, the number of outstanding shares will be reduced from approximately 11.4 million to 1.14 million, with fractional shares being compensated in cash.
Key Highlights
- Onconetix's Board approved a 1-for-10 reverse stock split.
- The reverse stock split will be effective at 12:01 a.m. Eastern Time on May 21, 2026.
- Common stock will begin trading on a split-adjusted basis on May 21, 2026.
- The split aims to maintain compliance with Nasdaq's $1.00 minimum bid price requirement.
- The Company's common stock will trade under new CUSIP number 68237Q 401.
- No fractional shares will be issued; holders will receive cash compensation.
- Outstanding shares will decrease from approximately 11.4 million to 1.14 million.
Price Impact
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