Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 3

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 3
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 any holder may increase or decrease such percentage, provided that any increase will not be effective until the
61st day after such election.

The
exercise price of the February 2025 Warrants is subject to customary adjustment in the event of certain stock dividends and distributions,
stock splits, stock combinations, reclassifications or similar events affecting the common stock and also upon any distributions of assets,
including cash, stock or other property to the stockholders of the Company.

The
                                            issuance of the February 2025 Warrants pursuant to the February 2025 Securities Purchase
                                            Agreement and issuance of the February 2025 Placement Agent Warrants (defined below) were
                                            made pursuant to the exemption from the registration requirements under the Securities Act,
                                            available to the Company under Section 4(a)(2) promulgated thereunder and Rule 506 of Regulation
                                            D promulgated under the Securities Act due to the fact the offering of the February 2025
                                            Common Warrants and the February 2025 Placement Agent Warrants thereunder did not involve
                                            a public offering of securities.

2

The
February 2025 Securities Purchase Agreement contained customary representations and warranties. The February 2025 Offering closed on
February 6, 2025.

Pursuant
to the Engagement Agreement, the Placement Agent acted as the Company’s exclusive placement agent in connection with the offering.

Pursuant
to the terms of the Engagement Agreement, the Company paid the Placement Agent a cash transaction fee equal to 7.5% of the aggregate
gross cash proceeds in the offering and a management fee equal to 1.0% of the aggregate gross cash proceeds in the offering. In addition,
the Company paid for certain non-accountable expenses in the amount of $15,000 and a clearing fee in the amount of $10,000. The Company
also issued to the Placement Agent (or its designees) warrants to purchase up to 22,554 shares of Common Stock (the “February 2025
Placement Agent Warrants”). The February 2025 Placement Agent Warrants have an exercise price equal to $4.469 per share and are
exercisable upon issuance and expire twenty-four months from the date of issuance.

The
                                            Company received net proceeds of $908,627 from the offering, after deducting estimated offering
                                            expenses paid by the Company, including the Placement Agent fees. The Company intends to
                                            use the net proceeds from the offering for general corporate purposes, including