Onconetix Provides Up To $5 Mln Bridge Financing To Realbotix
(RTTNews) - Onconetix Inc. (ONCO), a commercial-stage biotechnology company, announced that it has provided strategic bridge financing to Realbotix LLC, the target of its pending acquisition, to support the company's growth and working capital needs.
Under a Grid Promissory Note, Onconetix has agreed to make available up to $5 million, with an initial advance of $2.5 million funded on September 11, 2026. The Note is an unsecured obligation of Realbotix and matures on September 11, 2027.
Onconetix previously entered into a Share Exchange Agreement on February 12, 2026, to acquire 100% of the issued and outstanding equity interests of Realbotix LLC in an all-stock transaction.
The Note is non-interest bearing before the closing of the acquisition. If the agreement is terminated, interest on the outstanding principal will accrue at 12% per annum from the termination date.
If the acquisition closes, the Note and all related obligations will be automatically canceled and discharged in full. In addition, the net cash at closing will be increased by the outstanding principal under the Note plus an additional $500,000.
The transaction is subject to Onconetix shareholder approval, required regulatory approvals and other closing conditions, including a requirement that Onconetix have at least $12.5 million in net cash at closing.
The combined company is expected to trade on Nasdaq following completion of the transaction.
Realbotix LLC, a wholly owned subsidiary of Realbotix Corp., develops AI-powered humanoid robots designed for human interaction across enterprise and consumer environments.
ONCO closed Monday's trade at $0.63, down 15.73%. In the pre-market trade, shares are up 2.45% at $0.65.
