Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 261

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 1A
Chunk 261
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 percentage, provided that any increase will not be effective until the 61st day after such election.

The exercise price of the January 2025 Warrants
is subject to customary adjustment in the event of certain stock dividends and distributions, stock splits, stock combinations, reclassifications
or similar events affecting the common stock and also upon any distributions of assets, including cash, stock or other property to the
stockholders of the Company.

The issuance of the January 2025 Warrants pursuant
to the January 2025 Securities Purchase Agreement and issuance of the January 2025 Placement Agent Warrants, as defined below, and the
shares of common stock issuable thereunder were made pursuant to the exemption from the registration requirements under the Securities
Act, available to the Company under Section 4(a)(2) promulgated thereunder and Rule 506 of Regulation D promulgated under the Securities
Act due to the fact that the offering of the January 2025 Warrants and the January 2025 Placement Agent Warrants thereunder did not involve
a public offering of securities.

The January 2025 Securities Purchase Agreement
contained customary representations and warranties. The offering closed on January 30, 2025.

Pursuant to an engagement letter agreement between
the Company and the Placement Agent dated August 30, 2024, as amended on September 3, 2024 and January 24, 2025, the Placement Agent acted
as the Company’s exclusive placement agent in connection with the offering.

36

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 “January 2025 Placement Agent Warrants”) to purchase up to 15,325 shares of common stock. The January 2025 Placement
Agent Warrants have an exercise price equal to $6.382 per share and are exercisable upon issuance and expire twenty-four months from the
date of issuance.

The Company received net proceeds of approximately
$804,346 from the offering, after deducting estimated offering expenses paid by the