CTOR

#4111
Citius Oncology, Inc. - Common Stock
0.7 8 USD
-0.01%
Market Price
Sektor: Gesundheitswesen
Basis: USD
Gewinnwährung: USD
Tagesspanne
0.78
0.78
Jahresspanne
0.49
1.22
Tagesänderung
-1.27%
Monatliche Änderung
+21.88%
6 month change
-28.44%
Jahresänderung
-32.76%
Vorheriger Schlusskurs
0.7 9
Open
0.7 8
Tief
0.7 8
Hoch
0.7 8
Volumen
1
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Financials

Übersicht Finanzbericht Statistik Documents

2026

Current report, Q3 FY2026
CITIUS ONCOLOGY, INC. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
CITIUS ONCOLOGY, INC. current report, Q3 FY2026
8-K
Current report, Q3 FY2026
CITIUS ONCOLOGY, INC. current report, Q3 FY2026
8-K
Quarterly report, Q2 FY2026
CITIUS ONCOLOGY, INC. quarterly report, Q2 FY2026
10-Q
Current report, Q2 FY2026
CITIUS ONCOLOGY, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
CITIUS ONCOLOGY, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
CITIUS ONCOLOGY, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
CITIUS ONCOLOGY, INC. current report, Q2 FY2026
8-K
Current report, Q2 FY2026
CITIUS ONCOLOGY, INC. current report, Q2 FY2026
8-K
Quarterly report, Q2 FY2026
CITIUS ONCOLOGY, INC. quarterly report, Q2 FY2026
10-Q

CITIUS ONCOLOGY, INC. current report, Q4 FY2023

Full document

Business Context and Reporting Period

This Form 8-K, dated October 23, 2023, reports that TenX Keane Acquisition (TenX), a Cayman Islands exempted company, entered into a definitive Agreement and Plan of Merger with Citius Pharmaceuticals, Inc. (Citius Pharma) and its wholly-owned subsidiary, Citius Oncology, Inc. (Citius Oncology). The transaction constitutes a business combination where TenX will merge with Citius Oncology, followed by a domestication of TenX from the Cayman Islands to Delaware. Upon closing, the combined entity will be renamed Citius Oncology, Inc. and listed on the Nasdaq Global Market.

Key Financial Metrics and Transaction Terms

The filing details the financial structure of the merger rather than historical operating results for the period.

  • Valuation: The transaction values Citius Oncology at an implied equity value of $675,000,000.
  • Share Issuance: Approximately 67,500,000 shares of New Citius Oncology Common Stock will be issued to existing Citius Oncology shareholders, calculated based on a $10.00 per share value.
  • Trust Account Requirement: A closing condition requires TenX's net tangible assets to be no less than $5,000,001 after redemptions.
  • Extension Fees: Citius Pharma will contribute to extension fees deposited into TenX's Trust Account to extend the deadline for consummating the business combination. These funds are repayable to Citius Pharma post-closing if the Trust Account balance exceeds $2,000,000.
  • Transaction Expenses: The Sponsor is obligated to pay Estimated Parent Transaction Expenses in excess of $500,000.
  • Termination Fee: Citius Pharma must pay a termination fee of $5,000,000 to TenX if it terminates the agreement to pursue an alternative acquisition during the specified period.

Note: The filing does not provide specific revenue, profit, cash flow, or debt figures for Citius Oncology or TenX for the reporting period.

Material Changes and Transaction Structure

The primary material change is the execution of the Merger Agreement, initiating a SPAC merger process. Key structural changes include:

  • Corporate Existence: TenX Merger Sub will merge into Citius Oncology, which will become a wholly-owned subsidiary of TenX.
  • Domestication: TenX will deregister in the Cayman Islands and domesticate in Delaware, changing its name to Citius Oncology, Inc.
  • Security Conversion: TenX ordinary shares, rights, and units will convert on a one-for-one basis into New Citius Oncology Common Stock and rights.
  • Option Conversion: Outstanding Citius Oncology options will convert to options for New Citius Oncology stock with adjusted exercise prices.

Guidance, Outlook, Risks, and Contingencies

Conditions to Closing: The transaction is subject to shareholder approval from both TenX and Citius Oncology, the effectiveness of a Form S-4 registration statement, expiration of the HSR Act waiting period, and the absence of a Material Adverse Effect.

Timeline and Extensions: The parties may automatically extend the closing deadline to April 17, 2024. If necessary, they may seek shareholder approval to extend further to October 17, 2024.

Risks and Contingencies:

  • Regulatory Approval: Termination is permitted if the FDA issues a complete response letter to Citius Pharma's resubmission of its Biologics License Application (BLA).
  • Redemptions: The amount of gross proceeds available to the new company depends on the level of redemptions by TenX shareholders.
  • Listing Standards: Closing is contingent on the combined entity meeting Nasdaq listing requirements.
  • Forward-Looking Statements: The filing includes standard disclaimers regarding risks related to the completion of the transaction, economic conditions, and the ability to implement business plans.

Investor Verification Checklist

  • Verify the status of Citius Pharma's Biologics License Application (BLA) resubmission with the FDA, as a complete response letter is a termination trigger.
  • Monitor the Form S-4 proxy statement/prospectus for details on the exact number of shares subject to redemption and the resulting cash available to the combined entity.
  • Confirm the final approval of the Business Combination by shareholders of both TenX and Citius Oncology.
  • Review the "Risk Factors" section in the upcoming Form S-4 for specific details on regulatory, financial, and operational risks.
  • Check for any updates regarding the extension of the business combination deadline beyond April 17, 2024.