Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 479

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1B
Chunk 479
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, the Company issued a total of 24,053 shares of common stock to certain vendors as payment for services rendered or to be
provided to the Company. 

In connection with the closing of the Company’s
IPO as discussed in Note 1, the Company issued common stock as follows:

●As a result of the effectiveness of the Registration Statement on July 11, 2023, the Company issued a total of 668 restricted shares of common stock to the following directors and in the amounts listed: (i) Stephen Toovey (167 restricted shares of common stock), (ii) Charles Allen (167 restricted shares of common stock), (iii) Paul Field (167 restricted shares of common stock) and (iv) Cheryl Xu (167 restricted shares of common stock), by virtue of the directors’ agreements discussed in Note 11.

●On July 14, 2023, the IPO closed, and the Company issued 23,585 shares of common stock from the sale of units at a price of $318.00 per unit, generating $6,454,325 in net proceeds, after deducting the underwriting discount and commission and other estimated IPO expenses. As a result of the completion of the IPO and as required under the terms of the respective agreements, on July 14, 2023:

oThe Company issued an aggregate of 28,460 shares of common stock upon conversion of the Company’s outstanding debt obligations as follows: (i) 6,404 shares issued to the holders of the 2022 and 2023 Bridge Notes and the Related Party Notes, (ii) 3,583 shares issued pursuant to the Xu Yu Note, including the Amendment, and (iii) 18,473 shares issued to Knight upon conversion of the principal amount of the Convertible Knight Loan, in each case at the conversion prices detailed in Note 8.

oThe Company issued 488 shares of common stock to BioIntelect as deferred equity compensation valued in the amount of $155,000.

In July 2023, the Company issued an aggregate
of 3,075 shares of common stock upon the exercise of (i) 525 Bridge Warrants (as defined below), (ii) 1,000 Non-tradeable Warrants, and
(iii) 1,550 Tradeable Warrants.

On July 25, 2023, the Company converted 2,162
shares of Series A Preferred Stock held by Knight into 760 shares of common stock.

F-