NeOnc Technologies Holdings, Inc. entered into a Securities Purchase Agreement on June 10, 2026, to sell up to $5.0 million of its newly designated Series A Convertible Preferred Stock to certain accredited investors in a private placement. The company also filed a Certificate of Designation outlining the rights and preferences of this new class of security.
Key Details
- Offering Size: Up to $5,000,000 through the issuance of up to 6,000 shares of Series A Convertible Preferred Stock.
- Pricing: Shares will be issued at a purchase price of $833.34 per share, each with a stated value of $1,000.
- Key Terms: The company has an initial four-month period to redeem the preferred shares. If not redeemed, the shares become convertible at the holder's option into common stock at a conversion price equal to 80% of the lowest closing price during the five trading days prior to conversion, subject to a $1.00 floor price.
- Registration Rights: The company agreed to file a registration statement covering the resale of the common stock issuable upon conversion of the Series A Preferred Stock.