Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 680

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1C
Chunk 680
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,700
shares of common stock at an exercise price of $2.95 per share. The February 2025 Warrants are exercisable upon issuance, or February
6, 2025, and expire twenty-four months from the date of issuance, or February 8, 2027.

As compensation for acting as the placement agent
for the February 2025 Offering, the Company paid H.C. Wainwright & Co., LLC a cash transaction fee equal to 7.5% of the aggregate
gross cash proceeds in the offering and a management fee equal to 1.0% of the aggregate gross cash proceeds in the offering. The Company
also issued to H.C. Wainwright & Co., LLC warrants (the “February 2025 Placement Agent Warrants”) to purchase up to 22,554
shares of common stock. The February 2025 Placement Agent Warrants have an exercise price equal to $4.469 per share and are exercisable
upon issuance, or February 6, 2025, and expire twenty-four months from the date of issuance, or February 8, 2027. 

The February 2025 Offering closed on February
6, 2025, resulting in net proceeds to the Company of approximately $908,627, after deducting the placement agent fees and other offering
expenses paid by the Company.

1:5 Reverse Stock Split

On February 18, 2025, the Company filed an amendment
to its Certificate of Incorporation with the Secretary of State of Delaware to effect the 1:5 Reverse Stock Split, which was effective
as of February 24, 2025. The Company’s stockholders approved a reverse stock split at a ratio ranging from 1:3 to 1:5 at the 2024
Special Stockholders Meeting on November 6, 2024, and subsequently on February 10, 2025, the Company’s Board of Directors approved
the implementation of the reverse stock split at a ratio of 1:5.

As of the effective time of the 1:5 Reverse Stock
Split, every five (5) issued and outstanding shares of the Company’s common stock were automatically combined and 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