Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 2597

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 2597
---
ation or redemption of the Series A Preferred Stock. On March 31 of each calendar
year, any accrued and unpaid dividends shall accumulate and compound on such date and are cumulative until paid or converted. Holders
of shares of Series A Preferred Stock are entitled to receive accrued and accumulated dividends prior to and in preference to any dividend,
distribution, or redemption on shares of Common Stock or any other class of securities that is designated as junior to the Series A Preferred
Stock. From the issuance date of the Series A Preferred Stock, or July 14, 2023, to December 31, 2023, accrued dividends on outstanding
shares of Series A Preferred Stock totaled $220,714. During the year ended December 31, 2024, dividends in the amount of $483,301 accrued
on outstanding shares of Series A Preferred Stock. As of December 31, 2024, cumulative dividends on outstanding shares of Series A Preferred
Stock amount to $704,015. To date, the Company has not declared or paid any dividends.

F-23

Liquidation Rights - In the event of any
voluntary or involuntary liquidation, dissolution or winding up of the Company, the holders of shares of Series A Preferred Stock then
outstanding will share ratably in any distribution of the remaining assets and funds of the Company with all other stockholders as if
each share of Series A Preferred Stock had been converted by the Company to Common Stock as described below.

Conversion Rights - The Company has the
right, in its sole discretion, to convert all or any portion of the outstanding shares of Series A Preferred Stock (including any fraction
of a share), plus the aggregate accrued or accumulated and unpaid dividends thereon into a number of shares of Common Stock determined
by (i) multiplying the number of shares to be converted by $100 per share, as adjusted for any stock splits, stock dividends, recapitalizations
or similar transactions with respect to the Series A Preferred Stock (but unchanged as a result of the Reverse Stock Splits impacting
the common stock on August 12, 2024 and February 24, 2025) (the “Liquidation Value”), (ii) plus all accrued and accumulated
and unpaid dividends on such shares to be converted, and then (ii) dividing the result by the then-effective Conversion Price in effect,
provided that such conversion would not result in the holders of shares of Series A Preferred Stock owning more than 19.9% of the outstanding
shares of