SplitMay 4, 2026, 04:13 PM
Onconetix Stockholders Approve Reverse Stock Split Proposal
AI Summary
Onconetix, Inc. announced that its stockholders approved a reverse stock split proposal at a special meeting held on April 30, 2026. The approved amendment allows for a reverse stock split of the company's common stock at a ratio between 1-for-2 and 1-for-10, to be determined by the Board of Directors. Stockholders also approved a proposal to adjourn the meeting if necessary to solicit additional proxies.
Key Highlights
- Onconetix held a special meeting of stockholders on April 30, 2026.
- Stockholders approved an amendment for a reverse stock split in the range of 1-for-2 to 1-for-10.
- The Board of Directors will determine the exact ratio, not exceeding 1-for-100 in aggregate.
- The Reverse Stock Split Proposal received 1,301,918 votes for, 253,378 against, and 1,393 abstentions.
- The Adjournment Proposal was also approved with 1,332,088 votes for, 223,071 against, and 1,530 abstentions.
- There were 3,464,686 shares of Common Stock outstanding as of the March 13, 2026 record date.