NeOnc Technologies Holdings, Inc. (Nasdaq: NTHI) announced it has redeemed all 6,000 outstanding shares of its Series A Convertible Preferred Stock for cash at an aggregate stated value of $6.0 million, with no common shares issued in the transaction.

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. Following the redemption, no shares of Series A Preferred Stock remain outstanding.

NeOnc had originally issued the Series A Preferred Stock in June 2026 through a private placement, raising gross proceeds of $5.0 million. Under the terms of the issuance, the company held the right to redeem all outstanding shares for cash at stated value within four months.

Had the company not exercised that right, the stated value would have increased by $166.67 per share, and holders would have gained the option to convert shares into NeOnc common stock at 80% of the lowest closing price over the five trading days prior to conversion, subject to a $1.00 floor price.

"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.

NeOnc is a clinical-stage biopharmaceutical company developing therapies for central nervous system cancers. Its NEO100 and NEO212 drug candidates are currently in Phase 2 clinical trials under FDA Fast-Track and Investigational New Drug status.