Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 292

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 292
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”). The number of shares issuable upon exercise of the warrants was contingent on the number of shares issued upon conversion of the notes following the Company’s IPO. As of the closing of the Company’s IPO, the Bridge Warrants became exercisable into an aggregate of 231,917shares of the Company’s common stock, 79,926of which are held by related parties and have an exercise price of $ 4.77( 90% of the IPO price), and 151,991with an exercise price of $ 5.83( 110% of the IPO Price). Prior to the IPO, the Bridge Warrants were classified as derivative liabilities in accordance with the provisions of ASC 815 and were carried at their respective fair values. (See Note 9). In connection with the IPO, the terms of the Bridge Warrants became fixed. The Company determined the event resulted in equity classification for the Bridge Warrants and, accordingly, the Company remeasured the warrant liabilities to fair value, and reclassified the warrants to Additional Paid-in Capital.

F-53

On July 12, 2023, the Company executed a Warrant Agent Agreement with Equity Stock Transfer, LLC, acting as warrant agent for the IPO, which sets forth the procedures for registering, transferring and exercising the Tradeable Warrants and Non-tradeable Warrants issued in connection with the IPO. The Company accounts for the Tradeable Warrants, the Non-tradeable Warrants, and the Representative Warrants (defined in Note 1) as equity-classified financial instruments.

There were no equity-classified warrants issued or outstanding prior to the Company’s IPO. The following table presents information related to stock warrants at December 31, 2023:

| Total outstanding, December 31, 2022     |     | Number of 
 Warrants  |         - |   |     | Weighted       
 Average        
 Exercise Price |    - |     | Weighted     
 Average      
 Remaining    
 Contractual  
 Life (Years) |    - |
|:-----------------------------------------|:----|:----------|----------:|:--|:----|:---------------|-----:|:----|:-------------|-----:|
| Reclassified from Derivative Liabilities |     |           |   231,917 |   |     |                | 5.46 |     |              | 4.15 |
| Granted                                  |     |           | 3,116,384 |   |     |                | 6.22 |