Business
60 Degrees Pharmaceuticals Announces Closing of $2.4 Million Public Offering
WASHINGTON, Jan. 31, 2024 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (“60 Degrees Pharmaceuticals” or the “Company”),
About this update from 60 Degrees Pharmaceuticals, Inc.
[{"type":"text","content":"WASHINGTON, Jan. 31, 2024 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc. (NASDAQ: SXTP; SXTPW) (“60 Degrees Pharmaceuticals” or the “Company”), specialists in developing and marketing new medicines for the treatment and prevention of infectious diseases, announced today the closing of its public offering of 5,260,901 units (the “Units”) at a price to the public of $0.385 per Unit and 999,076 pre-funded units (the “Pre-Funded Units”) at a price to the public of $0.375 per Pre-Funded Unit. Each Unit consists of one share of common stock and one warrant exercisable for one share of common stock (the “Warrant”). Each Warrant has an exercise price of $0.4235 per share, is exercisable immediately upon issuance and expires five years from the date of issuance. Each Pre-Funded Unit consists of one pre-funded warrant exercisable for one share of common stock (the “Pre-Funded Warrant”) and one warrant identical to the Warrants included in the Units. The purchase price of each Pre-Funded Unit is equal to the price per Unit being sold to the public in the offering, minus $0.01, and the exercise price of each Pre-Funded Warrant is $0.01 per share. The Pre-Funded Warrants are immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full. The underwriters were granted an option, exercisable within 45 days after the closing of the offering, to purchase shares of the Company’s common stock at a price of $0.385 per share and/or Warrants at a price of $0.01 per Warrant and/or Pre-Funded Warrants at a price of $0.375 per Pre-Funded Warrant, or any combination of additional shares of common stock, Warrants and/or Pre-Funded Warrants, representing, in the aggregate, up to 15% of the number of Units sold in the offering, 15% of the Warrants underlying the Units and Pre-Funded Units sold in the offering and 15% of the Pre-Funded Warrants underlying the Pre-Funded Units sold in the offering, in all cases less the underwriting discount to cover over-allotments, if any. On January 31, 2024, WallachBeth Capital LLC partially exercised its over-allotment option with respect to 818,177 Warrants. WallachBeth Capital LLC is the Sole Bookrunner for the offering. Sichenzia Ross Ference Carmel LLP is acting as legal counsel to the Company and TroyGould PC, is acting as legal counsel to the underwriters. ...