Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 244

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 244
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4, the Company accounts for all issued and outstanding warrants to purchase common stock as equity-classified instruments based on the guidance in ASC 480 and ASC 815. F-19

In May 2022 and May 2023, in connection with the
issuance of the Related Party Notes and the 2022 and 2023 Bridge Notes as described in Note 8, the Company issued five-year warrants to
each of the noteholders with an exercise price dependent on the IPO price (collectively, the “Bridge Warrants”). 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
shares of the Company’s common stock, of which have an exercise price of $ (% of the IPO price), and with an
exercise price of $ (% 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 8). 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.

As of the respective issuance dates, the Company
accounts for the Tradeable Warrants, the Non-tradeable Warrants, and the IPO Representative Warrants (each as defined in Note 1), the
January 2024 Pre-Funded Warrants, the January 2024 Warrants, and the January 2024 Representative Warrants (each as defined above) as equity-classified
financial instruments.

On September 4, 2024, the Company entered into
a Securities Purchase Agreement (the “Purchase Agreement”) with an institutional investor, agreeing to issue and sell in a
private placement offering (the “Private Placement”) (i) pre-funded warrants to purchase shares of common stock
(the “September 2024 Pre-Funded Warrants”), (ii) series A warrants to purchase shares of common stock (the “Series
A Warrants”), and (iii) series B warrants to purchase shares of common stock (the “Series B Warrants) at a price
of $ per Pre-Funded Warrant and accompanying Series A and