Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 318

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 318
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    Expected term (years) 
     1.50 – 5.00  
     3.86 – 5.00 
  
    Expected dividend yield 
     0.00% 
     0.00%

Series A Preferred Stock

As described in Note 7, as a result of the completion
of the IPO and as required under the terms of the Knight Debt Conversion Agreement, the Company converted the entirety of the accumulated
interest on the Convertible Knight Loan as of March 31, 2022 into 80,965 shares of Series A Preferred Stock at the Conversion Price detailed
below. During the years ended December 31, 2024 and 2023, the Company converted an aggregate of 2,323 and 2,162 shares of Series A Preferred
Stock, respectively, into 14,667 and 760 shares of common stock, respectively, at the conversion rate detailed below.

The holders of shares of Series A Preferred Stock
have the rights, preferences, powers, restrictions and limitations as set forth below.

Voting Rights - The holders of shares
of Series A Preferred Stock are not entitled to any voting rights.

Dividends - From and after the date of
issuance of any share of Series A Preferred Stock, cumulative dividends shall accrue, whether or not declared by the Board and whether
or not there are funds legally available for the payment of dividends, on a daily basis in arrears at the rate of 6.0% per annum on the
sum of the Liquidation Value (as defined below). Accrued dividends shall be paid in cash only when, as and if declared by the Board out
of funds legally available therefor or upon a liquidation 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