Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1146

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 1146
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 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. See Note 12 - Subsequent Events.

The Reverse Stock Splits did not change the authorized
number of shares of common stock or preferred stock, the par value of the common stock, or the number of issued and outstanding shares
of Series A Preferred Stock. All references to numbers of shares of the Company’s common stock and per share information in these
consolidated financial statements have been retroactively adjusted, as appropriate, to reflect the Reverse Stock Splits, including reclassifying
an amount equal to the reduction in par value of common stock to additional paid-in capital.

Common Stock

In January and March 2023, the Board of Directors,
with the consent of Tyrone Miller and Geoffrey S. Dow, respectively, approved resolutions to cancel an aggregate of 3,203 shares of common
stock issued to Tyrone Miller and 20,983 shares of common stock issued to the Geoffrey S. Dow Revocable Trust to allow the Company to
issue new shares to vendors in exchange for valuable services to be provided for use in the Company’s operations. In January and
March 2023, the Company issued a total of 24,053 shares of common stock to certain vendors as payment for services rendered or to be
provided to the Company. 

In connection with the closing of the Company’s
IPO as discussed in Note 1, the Company issued common stock as follows:

●As a result of the effectiveness of the Registration Statement on July 11, 2023, the Company issued a total of 668 restricted shares of common stock to the following directors and in the amounts listed: (i) Stephen Toovey (167 restricted shares of common stock), (ii) Charles Allen (167 restricted shares of common stock), (iii) Paul Field (167 restricted shares of common stock) and (iv) Cheryl Xu (167 restricted shares of common stock), by virtue of the directors’ agreements discussed in Note 11.

●On July 14, 2023, the IPO closed, and the Company issued 23,585 shares of common stock from the sale of units at a price of $318.00 per unit, generating $6,454,325 in net proceeds, after deducting the underwriting discount and commission and other estimated IPO expenses. As a result of the completion of the IPO and as