Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 66

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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ulgated under the Securities Act due to the fact that the offering of the February 2025 Warrants and the
February 2025 Placement Agent Warrants thereunder did not involve a public offering of securities.

The February 2025 Securities Purchase Agreement
contained customary representations and warranties. The offering closed on February 6, 2025.

37

Pursuant to an engagement letter agreement between
the Company and H.C. Wainwright & Co., LLC (the “Placement Agent”) dated August 30, 2024, as amended on September 3, 2024
and January 24, 2025 (the “Engagement Agreement”), the Placement Agent acted as the Company’s exclusive placement agent
in connection with the offering.

Pursuant to the terms of the Engagement Agreement,
the Company 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, the Company paid for certain non-accountable expenses
in the amount of $15,000 and a clearing fee in the amount of $10,000. The Company also issued to the Placement Agent (or its designees)
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 and expire twenty-four months
from the date of issuance.

The Company received net proceeds of approximately
$908,627 from the offering, after deducting estimated offering expenses paid by the Company, including the Placement Agent fees. The Company
intends to use the net proceeds from the offering for general corporate purposes, including working capital.

Registration of the Shares of Common Stock
Underlying Warrants

Pursuant to the January and February 2025 Securities
Purchase Agreement, the Company was required to file a registration statement with the SEC within 45 days after the date of the respective
Securities Purchase Agreements to register the shares underlying the warrants under the Securities Act. The Company agreed to use commercially
reasonable efforts to cause such registration statement to become effective within 75 days following the respective closing dates, and
to keep such registration statement effective at all times until no purchaser owns any warrants or warrant shares issuable upon exercise
thereof. Subsequently, the Company