Onconetix Inc. has announced the completion of a private placement financing with institutional investors, raising approximately $6.25 million. The company sold a total of 7,813 shares of Series E convertible preferred stock, which are convertible into common shares, along with warrants to purchase 2,025,223 common shares. As part of the transaction, Onconetix entered into a registration rights agreement with the investors, granting them certain rights regarding the registration of the underlying common shares. The Series E preferred stock carries a stated value of $1,000 per share and ranks pari passu with the company's Series C and Series D preferred stock.
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