Realbotix Corp. (TSX-V: XBOT) provided an update on its planned transaction to list its wholly owned subsidiary Realbotix LLC on the Nasdaq Capital Market through a reverse takeover with Onconetix, Inc. (NASDAQ: ONCO).

The transaction, expected to close by October 2026, would result in the robotics and AI business of Realbotix LLC being listed on Nasdaq while the parent company maintains a 75-90% ownership stake. No action is required by existing Realbotix shareholders as there are no changes to the parent company structure.

Under the proposed arrangement, Realbotix will appoint four out of five directors to the ONCO board of directors upon closing. The parent company stated that no shares will be issued and no share consolidation is required for the transaction.

"Once listed on the Nasdaq, there will be a clearer and more visible market value for the commercial robotics business and greater access to capital, institutional investors, and long-term growth opportunities," said Andrew Kiguel, CEO of Realbotix.

David White, CEO of Onconetix, stated that the company is committed to completing the acquisition of Realbotix LLC.

Realbotix LLC, based in Nevada, designs and manufactures AI-powered humanoid robots for consumer-facing social roles including customer service, healthcare, education, hospitality, and entertainment. The subsidiary includes an engineering division, AI software division, robotics patents, and intellectual property.

The proposed transaction, first announced on February 12, 2026, remains subject to approval from ONCO shareholders and regulators. The companies plan to file a Registration Statement on Form S-4 with the SEC in connection with the proposed transaction.