Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 160

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 160
---
 the SEC on February
6, 2025 and accompanying base prospectus, pursuant to Rule 424(b)(5) promulgated under the Securities Act.

The Placement Agent acted as our exclusive placement
agent in connection with the offering. Pursuant to the terms of the placement agent agreement, we paid the Placement Agent 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. In addition, we paid for certain non-accountable expenses in the amount of $15,000 and a clearing fee in the
amount of $10,000. We also issued to the Placement Agent (or its designees) warrants to purchase up to 22,554 shares of Common Stock (the
“February 2025 Placement Agent Warrants”). The February 2025 Placement Agent Warrants have an exercise price equal to $4.469
per share and are exercisable upon issuance and expire twenty-four months from the date of issuance.

The registered direct offering and the concurrent
private placement (collectively, the “February 2025 Offering”) closed on February 6, 2025, resulting in net proceeds of approximately
$908,627, after deducting estimated offering expenses paid by us, including the Placement Agent fees.

Pursuant to the February 2025 Securities Purchase
Agreement, within 45 days from the date of the February 2025 Securities Purchase Agreement, we were required to file a registration statement
with the SEC providing for the resale by the February 2025 Purchasers of the shares of common stock issuable upon exercise of the February
2025 Warrants. The registration statement was declared effective by the SEC on April 2, 2025. The Company shall use commercially reasonable
efforts to keep such registration statement effective at all times until no February 2025 Purchaser owns any February 2025 Warrants or
shares underlying the February 2025 Warrants issuable upon exercise thereof.

Liquidity and Capital Resources

As of March 31, 2025, we had cash and cash equivalents of $3,451,500
($1,659,353 as of December 31, 2024). For the three months ended March 31, 2025 and 2024, our net cash used in operating activities was
$1,597,366 and $1,140,438,