Business
60 Degrees Pharmaceuticals Announces Closing of Initial Public Offering
WASHINGTON, July 14, 2023 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc., (NASDAQ: SXTP; SXTPW) (“60P” or the “Company”), specialists in developing and
About this update from 60 Degrees Pharmaceuticals, Inc.
[{"type":"text","content":"WASHINGTON, July 14, 2023 (GLOBE NEWSWIRE) -- 60 Degrees Pharmaceuticals, Inc., (NASDAQ: SXTP; SXTPW) (“60P” or the “Company”), specialists in developing and marketing medicines for infectious diseases, announced today the closing of its initial public offering of 1,415,095 units (each, a “Unit,” collectively, the “Units”) at a price of $5.30 per Unit for a total of approximately $7.5 million of gross proceeds to the Company, prior to deducting underwriting discounts, commissions and offering expenses. Each Unit is comprised of one share of the Company’s common stock, one tradeable warrant (each, a “Tradeable Warrant,” collectively, the “Tradeable Warrants”) to purchase one share of common stock at an exercise price of $6.095 per share, and one non-tradeable warrant (each, a “Non-tradeable Warrant,” collectively, the “Non-tradeable Warrants”; together with the Tradeable Warrants, the “Warrants”) to purchase one share of the Company’s common stock at an exercise price of $6.36. The shares and Tradeable Warrants began trading on the Nasdaq Capital Market on July 12, 2023, under the symbols “SXTP” and “SXTPW,” respectively. The Company granted the underwriters an option, exercisable within 45 days after July 12, 2023, to purchase shares of the Company’s common stock at a price of $5.28 per share, and/or Tradeable Warrants at a price of $0.01 per Tradeable Warrant and/or Non-tradeable Warrants at $0.01 per Non-tradeable Warrant, or any combination of additional shares of common stock and Warrants representing, in the aggregate, up to 15% of the number of Units sold in the offering, in all cases less the underwriting discount. WallachBeth Capital LLC acted as the Sole Bookrunner for the offering. The offering was made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from WallachBeth Capital LLC, via email: [email protected], or by calling +1 (646) 237-8585, or by standard mail at WallachBeth Capital LLC, Attn: Capital Markets, 185 Hudson St., Suite 1410, Jersey City, NJ 07311, USA. In addition, a copy of the final prospectus relating to the offering may be obtained via the Securities and Exchange Commission’s (“SEC”) website at www.sec.gov. A registration statement on Form S-1, as amended (File No. 333-269483), relating to these securities was filed with the SEC and was decl...