Onconetix Approves 1-for-5 Reverse Split to Reduce Shares to 700,000
Onconetix’s board approved a 1-for-5 reverse stock split effective March 25, 2026, converting every five outstanding shares into one and reducing the float from approximately 3.6 million to 0.7 million shares. Fractional shares will be canceled with cash compensation based on the March 24 closing price and the common stock will trade under a new CUSIP on Nasdaq to meet the $1 minimum bid requirement.
1. Board Approval and Split Ratio
Onconetix’s Board affirmed the 1-for-5 reverse split following stockholder authorization of a 1-for-2 to 1-for-50 split range. The reverse split ratio was fixed at one new share for every five existing shares, effective at 12:01 a.m. Eastern Time on March 25, 2026.
2. Impact on Shares and Trading
The split will reduce the company’s outstanding common stock from approximately 3.6 million to about 0.7 million shares. Onconetix’s common stock will begin trading on a split-adjusted basis under the same Nasdaq symbol at market open on March 25.
3. Fractional Share Treatment
Fractional share interests arising from the split will be automatically canceled, with holders receiving cash based on the closing price on March 24, 2026. No fractional shares will be issued post-split, ensuring whole-share ownership for investors.
4. Listing Compliance Objective
The reverse split is designed to secure compliance with Nasdaq’s $1.00 minimum bid price requirement for continued listing. The company will trade under a new CUSIP (68237Q302) to reflect the adjusted share structure without altering authorized share count.