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60 Degrees Pharmaceuticals Announces Pricing of Initial Public Offering
WASHINGTON, July 12, 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 12, 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 pricing 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. 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, each, a \"Warrant,\" collectively, the \"Warrants\") to purchase one share of the Company's common stock at an exercise price of $6.36. The shares and Tradeable Warrants are expected to begin trading on the Nasdaq Capital Market on July 12, 2023, under the symbols \"SXTP\" and \"SXTPW,\" respectively. The offering is expected to close on or about July 14, 2023, subject to customary closing conditions. The underwriters have been granted an option, exercisable within 45 days after the closing of this offering, 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 this offering, in all cases less the underwriting discount. WallachBeth Capital LLC is the Sole Bookrunner for the offering. The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained, when available, 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, when available, relating to the offering may be obtained via the Securities and Exchange Commission’s (\"SEC\") website at w...