Onconetix, Inc. announced that it has entered into subscription agreement to issue non-convertible debenture for the gross proceeds of $5,000,000 on January 23, 2024. The transaction included participation from new lender Altos Ventures Management, Inc. The Debenture has an interest rate of 4.0% per annum, and the principal and accrued interest are repayable in full upon the earlier of the closing under the Subscription Agreement and June 30, 2024. Additionally, the $5.0 million subscription amount under the Subscription Agreement shall be increased by the amount of interest payable under the Debenture.

The issuance of the Debenture was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act of 1933, as amended and/or Regulation D promulgated thereunder.