Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 114

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 114
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 during the quarter upon the exercise of 385,200
pre-funded warrants issued in September 2024, resulting in proceeds of $1,926.

1:5 Reverse Stock Split

On November 6, 2024, our Board of Directors (“Board”)
approved a reverse stock split of our common stock at a split ratio ranging between 1:3 and 1:5, as determined by the Board in its sole
discretion. On November 6, 2024, a majority of our stockholders approved the proposed reverse stock split. On February 10, 2025, the Board
approved a 1-for-5 reverse split ratio. On February 18, 2025, we filed a Certificate of Amendment to the Certificate of Incorporation,
as corrected, with the Secretary of State of the State of Delaware that provides for a 1-for-12 split. On February 24, 2025, we effectuated
a 1-for-5 reverse stock split of our common stock (the “1:5 Reverse Stock Split”). Beginning February 24, 2025, our common
stock traded on The Nasdaq Capital Market on a split adjusted basis.

As a result of the 1:5 Reverse Stock Split, proportional
adjustments were made to the number of shares of common stock issuable upon exercise or conversion of our equity awards, warrants, and
other equity instruments convertible into common stock, as well as the respective exercise prices, if applicable in accordance with the
terms of the instruments. No fractional shares of common stock were issued in connection with the 1:5 Reverse Stock Split and all fractional
shares were rounded up to the nearest whole share with respect to outstanding shares of common stock. Unless otherwise noted, all references
to numbers of shares of our common stock and per share information presented in this Quarterly Report on Form 10-Q have been retroactively
adjusted to reflect the effects of the 1:5 Reverse Stock Split.

January 2025 Offering

On January 28, 2025, we entered into a securities
purchase agreement (the “January 2025 Securities Purchase Agreement”) with certain institutional investors (the “January
2025 Purchasers”) pursuant to which we sold an aggregate of 204,312 shares of common stock at a purchase price of $5.105 per share
in a registered direct offering priced at-the-market under the rules of The Nasdaq Stock Market LLC (“Nasdaq”). In a concurrent
private placement,