Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 8

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 8
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Amendments
to 2022 Equity Incentive Plan

On July 16, 2024 and November 6, 2024, our
stockholders approved an amendment to the 60 Degrees Pharmaceuticals, Inc. 2022 Equity Incentive Plan (the “2022 Plan”)
to increase the number of shares of Common Stock authorized for issuance by 83,334 shares and 100,000 shares, respectively, which
were previously approved by the Board. The total number of shares that remain available for issuance under the 2022 Plan is 57,068
shares effective as of March 27, 2025, which additional reservation of shares provides us with flexibility to address future equity
compensation needs. These increases are essential to attract and retain qualified employees, directors and consultants, and to align
their interests with those of our stockholders.

September 2024 Private Placement

On September 4, 2024, we entered into a securities
purchase agreement (the “Purchase Agreement”) with a single institutional investor. The Purchase Agreement provided
for the sale and issuance by us of an aggregate of: (i) Pre-Funded Warrants to purchase up to 579,711 Shares of our Common Stock, (ii)
579,711 shares of Common Stock issuable upon exercise of Series A Warrants, and (iii) 579,711 shares of Common Stock issuable upon exercise
of Series B Warrants.

The Pre-Funded Warrants are exercisable immediately
upon issuance and expire when exercised in full at an exercise price of $0.005 per share. The Series A Warrants and Series B Warrants
have an exercise price of $6.90 per share and were exercisable beginning on the effective date of stockholder approval of the issuance
of the shares of Common Stock upon exercise of the Common Warrants and the Placement Agent Warrants (discussed below), which was received
November 6, 2024 (the “Stockholder Approval”). The Series A Warrants will expire five years from Stockholder Approval and
the Series B Warrants will expire eighteen (18) months from Stockholder Approval.

H.C. Wainwright & Co., LLC acted
as the exclusive placement agent in connection with the Private Placement. In connection with the Private Placement, we issued to Wainwright
the Placement Agent Warrants to purchase 43,479 shares of our Common Stock. The Placement Agent Warrants have an exercise price equal