Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 255

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 255
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 sales as sales are made.

(f) Debenture

On April 24, 2019, 60P entered into the Knight
debenture of $ with an original issue discount of $, which was being amortized using the effective interest method.
The Company subsequently restructured the Knight Loans, including the debenture, pursuant to the Knight Debt Conversion Agreement (see
above). $ of the original issue discount was amortized to interest expense during the nine months ended September 30, 2023 prior
to the amendment. The Knight Debt Conversion Agreement in January 2023 was accounted for as an extinguishment of the Debenture, as discussed
above. Therefore, there were no amounts outstanding as of September 30, 2024 or December 31, 2023.

(g) SBA COVID-19 EIDL

On May 14, 2020, the Company received COVID-19
EIDL lending from the Small Business Administration (SBA) in the amount of $. The loan bears interest at an annual rate of %
calculated on a monthly basis. The balance as of September 30, 2024 and December 31, 2023 was $ and $, respectively. The
current maturity at September 30, 2024 is $ and the long-term liability is $ ($ and $ at December 31, 2023, respectively).
The loan is collateralized by all tangible and intangible personal property of the Company. The Company is prohibited from accepting future
advances under any superior liens on the collateral without the prior consent of SBA.

The current future payment obligations of the
principal are as follows:

| Period                        |     | Principal 
 Payments  |         |
|:------------------------------|:----|:----------|--------:|
| 2024 (remaining three months) |     | $         |       - |
| 2025                          |     |           |       - |
| 2026                          |     |           |     683 |
| 2027                          |     |           |   3,228 |
| 2028                          |     |           |   3,342 |
| Thereafter                    |     |           | 142,747 |
| Total                         |     | $         | 150,000 |

Due to the deferral, the Company is expected to
make a balloon payment of approximately $ to be due on .

F-26

8. DERIVATIVE LIABILITIES

In accordance with the