TenX Keane Acquisition

The $16.6 million cash balance is the product of a warrant exercise and a debt draw, not of the $1.5 million quarter, and $15.0 million of the term facility remains undrawn. The company states explicitly that it recognizes revenue when wholesaler orders are fulfilled, so the institutional vial counts lead reported revenue rather than equalling it.

Cash quadrupled while current liabilities grew $9.3 million, and the going-concern paragraph and the Nasdaq compliance question are both still live on the record. The two share counts are struck on different bases — the balance-sheet figure and the cover figure are not comparable and neither should be read as a change in outstanding shares.

All the growth figures are counts of ordering institutions and vials rather than revenue, and the $400 million market size and payer coverage are company estimates. The release also states the company is working to regain Nasdaq listing compliance and to secure a new bulk drug substance supplier.

Nothing a shareholder votes on changed. This document contains Part II only — the indemnification disclosure and the exhibit index — so a reader looking here for the terms of the Citius Oncology transaction will not find them and must read the amendment that carries the proxy statement/prospectus. What it does record is that the accountants' consent and the legality opinion were being corrected immediately after Amendment No. 4, which is the mechanical step that precedes a registration statement being declared effective.

The extraordinary general meeting is fixed at 9:30 a.m. Eastern on August 2, 2024 at 420 Lexington Avenue, Suite 2446, New York, with a live webcast alternative, so this version gives a holder a date to plan a redemption election around. The registered securities include 6,594,111 rights carrying 1,318,822 underlying shares and 5,889 units carrying 7,066 shares. The target is a carve-out: SpinCo is currently a wholly owned subsidiary of Citius Pharma, and part of what is registered is shares Citius Pharma may distribute to its own stockholders right after the merger.

This is a carve-out of a listed parent's asset rather than a merger with an independent company: the combined company owns and operates the LYMPHIR (denileukin diftitox) oncology immunotherapy business, and the registration statement covers not only the shares issued in the merger but also those Citius Pharma might distribute to its own stockholders immediately afterwards. TenX shareholders vote on the Domestication and the Business Combination as separate proposals, and the meeting date, time and webcast address are all left blank.

What changed: The filing is a Definitive Proxy Statement (DEF 14A) for Citius Oncology, Inc. regarding its 2026 Annual Meeting of Stockholders scheduled for September 29, 2026. It does not contain SPAC redemption deadlines or trust value updates as the SPAC TenX Keane Acquisition status is CLOSED; instead, it reports on corporate governance and executive compensation matters. Key disclosures include: 1) Election of three Class II directors (Dr. Eugene Holuka, Robert Smith, Carol Webb) to serve until the 2029 Annual Meeting. 2) Ratification of Wolf Company, P.C. as the independent auditor for the fiscal year ending September 30, 2026. 3) Executive compensation details for Named Executive Officers Leonard Mazur, Myron Holubiak, and Myron Czuczman, including base salaries ($166,250 for Mazur; $450,000 for Holubiak; $225,000 for Czuczman in FY2025) and equity awards valued at $2,975,000, $1,487,500, and $1,443,750 respectively. 4) A related-party transaction update regarding an unsecured promissory note from Citius Pharma, amended on May 4, 2026, to change maturity triggers to require $50 million in gross proceeds or senior debt repayment, with a voluntary conversion feature at $0.90 per share. 5) Security ownership data showing Citius Pharmaceuticals, Inc. holds 71.0% of outstanding shares as of August 17, 2026. Why it matters: Investors tracking sponsor conduct and deal progress should note that while the SPAC shell is closed, the operating company (Citius Oncology) continues to manage significant related-party dependencies, evidenced by the amended promissory note terms which tie repayment to future capital raises or monetization events. The proxy statement confirms board continuity and auditor retention, but highlights high insider ownership concentration (71.0% by Citius Pharma) and substantial equity-based compensation for executives, which may impact shareholder dilution and alignment of interests. The filing provides the specific record date (August 17, 2026) and voting procedures for the upcoming annual meeting, which is the primary mechanism for shareholder oversight in this closed-SPAC structure.

What changed: The 10-Q filed under Commission file number 001-41534 is that of Citius Oncology, Inc. for the quarter ended June 30, 2026, on a September 30 fiscal year. Cash rose to $16,563,705 from $3,924,908 at September 30, 2025 and total current assets to $42,707,165 from $27,542,881, with inventory of $22,625,945; in-process research and development net of amortization fell to $69,385,938 from $73,400,000 and total assets were $112,093,103. Why it matters: Cash quadrupled while current liabilities grew $9.3 million, and the going-concern paragraph and the Nasdaq compliance question are both still live on the record. The two share counts are struck on different bases — the balance-sheet figure and the cover figure are not comparable and neither should be read as a change in outstanding shares.