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

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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 State of Delaware
to effect the 1:5 Reverse Stock Split of the issued and outstanding shares of the Company’s common stock, which was effective as
of February 24, 2025. 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.

No fractional shares of common stock were issued
in connection with the Reverse Stock Splits. All fractional shares were rounded up to the nearest whole share with respect to outstanding
shares of common stock. 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 condensed 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.

15

Common Stock

January 2025 Offering

On January 28, 2025, the Company entered into
a securities purchase agreement with certain institutional investors pursuant to which the Company sold, in a registered direct offering
priced at-the-market under the rules of Nasdaq, an aggregate of 204,312 shares of common stock at a purchase price of $5.105 per share.
The shares were offered pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-280796). In a concurrent
private placement, the Company also issued to the investors unregistered warrants (the “January 2025 Warrants”) to purchase
up to an aggregate of 408,621 shares of common stock at an exercise price of $3.855 per share. The January 2025 Warrants are exercisable
upon issuance, or January 30, 2025, and expire twenty-four months from the date of issuance, or January 30, 2027. The registered direct
offering and concurrent private placement (together, the “January 2025 Offering”) closed on January 30, 2025, resulting in
net proceeds to the Company of approximately $804,346, after deducting the placement agent fees and other offering expenses paid by the
Company.

As compensation for