Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 251

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 251
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 Related 
     Party 
     Notes |     |      2023 
    Bridge 
     Notes |
| Issuance date of promissory notes |     |  May 2022 |     |  May 2022 |     |  May 2023 |
| Maturity date of promissory notes |     |         1 |     |         1 |     |         2 |
| Interest rate                     |     |       10% |     |        6% |     |       10% |
| Default interest rate             |     |       15% |     |       15% |     |       15% |
| Collateral                        |     | Unsecured |     | Unsecured |     | Unsecured |
| Conversion rate                   |     |         3 |     |         3 |     |         3 |

| 1 | - | earlier of 1 year from date of issuance or closing of IPO, later extended to July 2023 |

| 2 | - | earlier of 1 year from date of issuance or closing of IPO |

| 3 | - | see discussion above in (c) and (d) for Bridge Notes and Related Party Notes, respectively |

For the nine months ended September 30, 2024 and
2023, the Company recorded amortization of debt discounts, including issuance costs, of $ and $, respectively.

(e) Knight Debt Conversion

On January 9, 2023, and in two subsequent amendments,
the Company and Knight Therapeutics agreed to extinguish Knight’s debt in the event of an IPO. Key points of this agreement are
as follows:

| ● | The Parties agreed to fix Knight’s cumulative debt to the value as it stood on March 31, 2022, which consisted of $10,770,037 in principal and $8,096,486 in accumulated interest should the Company execute an IPO that results in gross proceeds of at least $7,000,000 prior to December 31, 2023. Should an IPO not occur by January 1, 2024 then all terms of the original debt would resume including any interest earned after March 31, 2022. |

| ● | The Parties agreed to convert the fixed principal amount into (i) that number of shares of common stock equal to dividing the principal amount by an amount equal to the offering price of the common stock in the IPO discounted by 15%, rounding up for fractional shares,