Onconetix Completes $12.9M Private Placement, Settles $8.8M Debt, Terminates Ocuvex Merger

Onconetix, Inc., a biotechnology company focused on men's health and oncology, completed a $12.9 million private placement on September 22, 2025, issuing Series D Convertible Preferred Stock and warrants. Approximately $9.3 million was paid in cash, with the remainder used to offset company debts, including a $8.8 million debt settlement with Veru, Inc., which involved cash payment and conversion of debt into preferred stock and warrants. The Series D Preferred Stock is convertible into 4,362,827 shares of common stock subject to anti-dilution adjustments, while the warrants carry an initial exercise price of $3.6896 per share and are exercisable for three years. Onconetix plans to seek shareholder approval for the issuance of shares upon conversion and exercise of these instruments in compliance with Nasdaq regulations. The company will use the net proceeds to cover costs related to terminating a previously planned merger with Ocuvex, Inc., as well as for working capital and general corporate purposes. Onconetix recently filed a detailed report with the SEC outlining the transaction terms.