NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) has completed the redemption of all outstanding shares of its Series A Convertible Preferred Stock. According to the company's Form 8-K filed on September 15, 2026, the redemption occurred on September 15, 2026, with a total cumulative redemption amount of approximately $5,790,000.
The redemption price was set at $965 per share. Following the transaction, no shares of the Series A Preferred Stock remain outstanding. The company filed a Certificate of Elimination with the Secretary of State of Delaware on September 18, 2026, to terminate the designation of the Series A Preferred Stock.
NeOnc issued the Series A Preferred Stock in June 2026 in a private placement for gross proceeds of $5.0 million. Under the terms of the securities, the company had the right to redeem all outstanding shares for cash at stated value within four months of issuance. Had the company not exercised this right, the stated value would have increased by $166.67 per share, and the shares would have become convertible into common stock.
The redemption was funded using a portion of the net proceeds from the company's $15 million registered direct offering announced on September 9, 2026. The company stated that the redemption was intended to simplify its capital structure and eliminate potential dilution for shareholders.
