On September 17, 2026 NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) ("NeOnc" or the "Company"), a multi-Phase 2 clinical-stage biopharmaceutical company developing novel therapies for central nervous system (CNS) cancers, reported that it has redeemed for cash all 6,000 outstanding shares of its Series A Convertible Preferred Stock (the "Series A Preferred Stock") at their aggregate stated value of $6.0 million. Following the redemption, no shares of Series A Preferred Stock remain outstanding.

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The redemption was funded with a portion of the net proceeds from the Company’s $15 million registered direct offering announced on September 9, 2026, consistent with the use of proceeds disclosed for that offering.

"We made a deliberate decision to redeem the Series A Preferred Stock in cash and eliminate the potential dilution these securities represented for our shareholders," said Amir F. Heshmatpour, Executive Chairman, President and Chief Executive Officer of NeOnc. "Our recent financing enabled us to retire all outstanding Series A Preferred Stock before its discounted conversion feature became available, simplifying our capital structure without issuing common shares in the redemption. As we advance NEO100 and NEO212, disciplined management of shareholder capital remains central to our strategy. We are focused on translating clinical progress into lasting value for patients and shareholders."

NeOnc issued the Series A Preferred Stock in June 2026 in a private placement for gross proceeds of $5.0 million. Under its terms, the Company had the right to redeem all outstanding shares for cash at stated value within four months of issuance. Had the Company elected not to redeem, the stated value would have increased by $166.67 per share, and the shares would have become convertible, at the holders’ option, into NeOnc 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.

(Press release, Neonc, SEP 17, 2026, View Source [SID1234670939])