Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 265

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 265
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 achievement of certain milestones, including a sales-based milestone fee of $ 75,000once cumulative Net Sales from all sources exceeds $ 6million. The Company accrues the minimum annual royalty when the related sales occur. The Company achieved the sales-based milestone target during the year ended December 31, 2023, which was paid in full on June 13, 2024. The achievement of other milestones under the U.S. Army Agreement are not considered probable and thus no accruals for the related milestone payments have been made. (e) Litigation, Claims and Assessments From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of September 30, 2024, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of the Company’s operations. 12. SUBSEQUENT EVENTS The Company has evaluated subsequent events through November 14, 2024, which is the date the consolidated condensed financial statements were issued. On October 1, 2024, the Company issued 206,551shares of common stock upon the exercise of 206,551September 2024 Pre-Funded Warrants, for aggregate cash proceeds to the Company of $ 207. On October 31, 2024, the Company issued an additional 229,000shares of common stock upon the exercise of 229,000September 2024 Pre-Funded Warrants, for aggregate cash proceeds to the Company of $ 229. On November 6, 2024, the Company conducted a Special Meeting of Stockholders (the “Meeting”). The Company’s stockholders of record at the close of business on September 20, 2024, the record date for the determination of stockholders entitled to vote at the Meeting, approved the proposals to (1) approve the exercise of the Series A Warrants, the Series B Warrants, and the September 2024 Agent Warrants (each as defined in Note 6) to purchase up to an aggregate of 6,014,493shares of the Company’s common stock under applicable rules and regulations of the Nasdaq Stock Market LLC, (2) approve an amendment to the 2022 Plan to increase the number of shares of common stock available for issuance by 500,000shares, and (3) approve an amendment to the Company’s Certificate of Incorporation, to effect a reverse stock split of our common stock at a reverse stock