Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 5

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 5
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 its affiliates) would beneficially own more than 4.99% (or, upon the
                                            election of the holder, 9.99%) of the number of shares of the common stock outstanding immediately
                                            after giving effect to the exercise, as such percentage ownership is determined in accordance
                                            with the terms of the January 2025 Warrants. However, any holder may increase or decrease
                                            such percentage, provided that any increase will not be effective until the 61st day after
                                            such election.

The
exercise price of the January 2025 Warrants is subject to customary adjustment in the event of certain stock dividends and distributions,
stock splits, stock combinations, reclassifications or similar events affecting the common stock and also upon any distributions of assets,
including cash, stock or other property to the stockholders of the Company.

The
issuance of the January 2025 Warrants pursuant to the January 2025 Securities Purchase Agreement and issuance of the January 2025 Placement
Agent Warrants (defined below) were made pursuant to the exemption from the registration requirements under the Securities Act of 1933,
as amended (the “Securities Act”), available to the Company under Section 4(a)(2) promulgated thereunder and Rule 506 of
Regulation D promulgated under the Securities Act due to the fact the offering of the January 2025 Warrants and the January 2025 Placement
Agent Warrants thereunder did not involve a public offering of securities.

The
January 2025 Securities Purchase Agreement contained customary representations and warranties. The January 2025 Offering closed on January
30, 2025.

Pursuant
to an engagement letter agreement between and H.C. Wainwright & Co., LLC (the “Placement Agent”) dated August 30, 2024,
as amended on September 3, 2024 and January 24, 2025 (the “Engagement Agreement”), the Placement Agent acted as the Company’s
exclusive placement agent in connection with the offering.

3

Pursuant
                                            to the terms of the Engagement Agreement, the Company paid the Placement Agent a cash transaction
                                            fee equal to 7.5% of the aggregate gross cash proceeds in the offering and a management fee
                                            equal to 1.0% of the aggregate gross cash proceeds in the offering. In addition, the Company
                                            paid for certain non-accountable expenses in the amount of $15,000 and a clearing fee in