Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 280

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 2
Chunk 280
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to the January 2025 Securities Purchase Agreement and issuance of the January 2025 Placement Agent Warrants, as defined below, and the
shares of common stock issuable thereunder 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 that the offering of the January 2025 Warrants and the January 2025 Placement Agent Warrants thereunder did not involve
a public offering of securities.

The January 2025 Securities Purchase Agreement
contained customary representations and warranties. The offering closed on January 30, 2025.

Pursuant to an engagement letter agreement between
the Company and the Placement Agent dated August 30, 2024, as amended on September 3, 2024 and January 24, 2025, the Placement Agent acted
as the Company’s exclusive placement agent in connection with the offering.

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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 (the “January 2025 Placement Agent Warrants”) to purchase up to 15,325 shares of common stock. The January 2025 Placement
Agent Warrants have an exercise price equal to $6.382 per share and are exercisable upon issuance and expire twenty-four months from the
date of issuance.

The Company received net proceeds of approximately
$804,346 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 working capital.

February 2025 Securities Purchase Agreement

On February 5, 2025, the Company entered into
a securities purchase agreement (the “February 2025 Securities Purchase Agreement”) with certain institutional investors (the
“February 2025 Purchasers”) pursuant to which the Company sold an aggregate of 300,700 shares of common stock