Onconetix's $2M Private Placement and $25M Equity Line of Credit Explained
Thursday, 3 October 2024, 13:32
Onconetix Funding Announcement
Onconetix (ONCO) has recently disclosed a significant financial maneuver, announcing a $2M private placement of Series C preferred stock along with related warrants. This funding is crucial as it not only strengthens their capital base but also sets the stage for a strategic plan to raise up to $25M in common stock.
Details of the Private Placement
- Initiation of a private placement
- Involvement of Series C preferred stock and warrants
- Potential to sell up to $25M in common stock
This financial strategy underlines Onconetix's commitment to advancing its biotech initiatives, ensuring robust funding for ongoing research.
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