Company: SXTPW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043779
Chunk: 117

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 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 registered direct offering and the concurrent
private placement (collectively, the “February 2025 Offering”) closed on February 6, 2025, resulting in net proceeds of approximately
$908,627, after deducting estimated offering expenses paid by us, including the Placement Agent fees.

Pursuant to the February 2025 Securities Purchase
Agreement, within 45 days from the date of the February 2025 Securities Purchase Agreement, we were required to file a registration statement
with the SEC providing for the resale by the February 2025 Purchasers of the shares of common stock issuable upon exercise of the February
2025 Warrants. The registration statement was declared effective by the SEC on April 2, 2025. The Company shall use commercially reasonable
efforts to keep such registration statement effective at all times until no February 2025 Purchaser owns any February 2025 Warrants or
shares underlying the February 2025 Warrants issuable upon exercise thereof.

Liquidity and Capital Resources

As of March 31, 2025, we had cash and cash equivalents of $3,451,500
($1,659,353 as of December 31, 2024). For the three months ended March 31, 2025 and 2024, our net cash used in operating activities was
$1,597,366 and $1,140,438, respectively. To date, we have financed our operations primarily through the issuance of common stock, warrants
to purchase common stock, and proceeds from the issuance of convertible debt and promissory notes. Based on current internal projections,
taking into consideration the net proceeds of approximately $1.9 million received under the ATM Agreement, an additional $5.127 million
in cumulative net proceeds received from the September 2024 Private Placement and the January and February 2025 Offerings, and recent
growth in Arakoda sales, we estimate that we will have sufficient funds to remain viable through August 31, 2025, excluding the additional
costs of conducting the Phase II study for chronic babesiosis patients (currently being planned), and assuming no additional capital raises.
We cannot give assurance that we can increase our cash balances or limit our cash consumption and thus maintain sufficient cash balances
for our planned operations or