Onconetix Announces Financing Through A $2M Private Placement Of Series C Preferred Stock And Warrants; Establishes A $25 Million Equity Line Of Credit
Portfolio Pulse from Benzinga Newsdesk
Onconetix, Inc. (NASDAQ:ONCO) has announced a $2 million private placement of Series C Preferred Stock and warrants, along with a $25 million equity line of credit. The funds will be used for working capital and general corporate purposes.
October 03, 2024 | 1:09 pm
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Onconetix has raised $2 million through a private placement of Series C Preferred Stock and warrants, and established a $25 million equity line of credit. This financing will support the company's working capital and general corporate purposes.
The successful raising of $2 million and establishment of a $25 million equity line of credit provides Onconetix with significant financial resources. This is likely to positively impact the company's stock price in the short term as it strengthens its financial position and supports its operations.
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IMPORTANCE 80
RELEVANCE 100