Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 791

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 791
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S,
INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

1. NATURE OF OPERATIONS

60 Degrees Pharmaceuticals, Inc. was incorporated
in Delaware on June 1, 2022 and merged on the same day with 60 Degrees Pharmaceuticals, LLC, a District of Columbia limited liability
company organized on September 9, 2010 (“60P LLC”). 60 Degrees Pharmaceuticals, Inc. and its subsidiary (referred to collectively
as the “Company”, “60P”, or “60 Degrees Pharmaceuticals”) is a specialty pharmaceutical company that
specializes in the development and marketing of new medicines for the treatment and prevention of infectious diseases. 60P achieved FDA
approval of its lead product, ARAKODA® (tafenoquine), for malaria prevention, in 2018. Currently, 60P’s pipeline under development
covers development programs for tick-borne fungal and other viral diseases utilizing three of the Company’s future products: (i)
new products that contain the Arakoda regimen of tafenoquine; (ii) new products that contain tafenoquine; and (iii) celgosivir. The Company’s
headquarters are located in Washington, D.C., with a majority-owned subsidiary in Australia.

Initial Public Offering

On July 14, 2023, the Company closed its initial
public offering consisting of 23,585 units at a price of $318.00 per unit for $6,454,325 in net proceeds, after deducting the underwriting
discount and commission and other estimated offering expenses paid by the Company at closing (the “IPO”). Each unit consisted
of one share of common stock, one tradeable warrant to purchase one share of common stock at an exercise price of $365.70 per share (a
“Tradeable Warrant”), and one non-tradeable warrant to purchase one share of the Company’s common stock at an exercise
price of $381.60 per share (a “Non-tradeable Warrant”). The Tradeable Warrants and Non-Tradeable Warrants were immediately
exercisable on the date of issuance and will expire five years from the date of issuance (July 12, 2023 to July 12, 2028).

The Company granted the underwriters a 45-day
over-allotment option to purchase up to 3,538 shares of the Company’s common stock at a price of $316.80 per share and/or 3,