Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 345

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 345
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 converted into
one (1) issued and outstanding share of the Company’s common stock, reducing the number of shares of common stock outstanding from
7,364,554 shares to 1,472,891 shares. The 1:5 Reverse Stock Split did not change the authorized number of shares of common stock or preferred
stock. Proportional adjustments were made to the number of shares of common stock issuable upon exercise or conversion of the Company’s
equity awards, warrants, and other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable
in accordance with the terms of the instruments. No fractional shares of common stock were issued in connection with the 1:5 Reverse
Stock Split. All fractional shares were rounded up to the nearest whole share with respect to outstanding shares of common stock.

Unless otherwise noted, all references to numbers
of shares of the Company’s common stock and per share information presented in these consolidated financial statements have been
retroactively adjusted, as appropriate, to reflect the 1:5 Reverse Stock Split (and the 1:12 Reverse Stock Split in August 2024), including
reclassifying an amount equal to the reduction in par value of common stock to additional paid-in capital.

Other Events

On January 8, 2025 and January 29, 2025, the
Company issued 296,400 shares and 88,800 shares of common stock, respectively upon the exercise of 296,400 and 88,800 September 2024
Pre-Funded Warrants, respectively, resulting in aggregate cash proceeds to the Company of $1,926.

On January 20, 2025, the Company issued a total
of 15,809 shares of common stock to certain executives and consultants, in settlement of the share-based portion of the 2024 performance
bonuses as discussed in Note 10, based on the closing price of the Company’s common stock on January 2, 2025. Approximately 2,748
shares were withheld to cover payroll tax withholdings.

On January 28, 2025, the Company announced the
approval of an Investigational Review Board (IRB) sanctioned Phase II clinical study. The study (NCT06656351) will evaluate the efficacy
and safety of the tafenoquine for treating patients with a presumptive diagnosis of chronic babesiosis, the patient enrollment of which
is expected to begin in the third quarter of 2025.

There have