NeOnc Technologies Holdings Inc. (NASDAQ: NTHI) has redeemed all 6,000 outstanding shares of its Series A Convertible Preferred Stock for $6 million in cash, using proceeds from a $15 million registered direct equity offering announced on September 9, 2026. The transaction, executed in Calabasas, Calif., eliminates the remaining preferred shares and avoids future dilution for shareholders, as the company’s executive chairman and CEO, Amir F. Heshmatpour, stated in a statement. Had the redemption not occurred, the shares would have appreciated by $166.67 per share, with a hypothetical conversion price tied to 80% of the lowest closing price over the five days prior to conversion, capped at $1.00 per share.
NeOnc redeems $6M preferred stock via recent $15M offering
Calabasas-based biotech redeems Series A convertible preferred shares with proceeds from a $15M direct equity offering, eliminating potential dilution ahead of Phase II CNS cancer trials.
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Priya Anand · Equities & Earnings Desk · 18 Sept 2026 · 02:32 · 1 min read
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Priya Anand
Equities & Earnings Desk
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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