Onconetix, Inc. 8-K

What Happened Onconetix, Inc. (ONCO) filed an 8-K on May 19, 2026 confirming that its board approved and the company will effect a 1-for-10 reverse stock split of its common stock. The split was authorized by stockholders at a special meeting on April 30, 2026, the board fixed the 1-for-10 ratio on May 8, 2026, and the company expects the split amendment to become effective at 12:01 a.m. Eastern Time on May 21, 2026. The company also issued a press release announcing the split.

Key Details

• Reverse split ratio: 1-for-10 (approved range 1:2 to 1:10; aggregate cap 1-for-100).
• Effective date/time: 12:01 a.m. ET on May 21, 2026; trading on a split-adjusted basis begins at Nasdaq open May 21, 2026.
• Shares outstanding: will decrease from ~11.4 million to ~1.14 million; no change to authorized shares or par value.
• Fractional shares: no fractional shares issued; holders entitled to fractional amounts will receive a cash payment based on the closing sale price on May 20, 2026 (adjusted for the split). New CUSIP: 68237Q401.

Why It Matters The reverse stock split is intended to help Onconetix regain compliance with Nasdaq’s minimum bid price requirement by increasing the per‑share trading price. The split does not change any stockholder’s proportional ownership except for cashing out fractional shares, and convertible securities, options and warrants will be adjusted proportionally. Retail investors should see their brokerage holdings automatically adjusted; certificated holders can request new certificates but are not required to do so. For questions, holders with brokerage accounts should contact their broker; others can contact the transfer agent, Continental Stock Transfer & Trust Company.